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What kind of loan do we need for redemption ?
What kind of loan do we need for redemption ? Home loan for redemption of buying house back I’m within my 90 day window to be able for redemption and I’m in California
Asked By Genowa Walker | Los Angeles, CA | 403 views | Home Loans | Created 1 year ago
Answer(2)
Amanda Courtney
REP Realty Group
If you’re buying back a foreclosed or tax-delinquent property (a redemption), traditional lenders usually won’t finance it — you’ll likely need cash, hard money, or a private lender. Talk with a local mortgage professional familiar with foreclosure redemptions to find the best option.
- 2 weeks ago
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Jason Craig
Coldwell Banker
Genowa, in California the right of redemption usually comes up after a foreclosure sale. To buy the home back within your 90-day window, you’d generally need cash or a hard money loan, since most traditional lenders won’t move that fast on a mortgage in a redemption situation. A local lender or attorney who handles foreclosure redemptions can point you to short-term financing options that let you redeem, and then you can refinance later into a regular home loan.
- 2 months ago
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