Q: Can I sell my house after it went through a foreclosure auction?
A: After a foreclosure auction of a personal residence occurs, the prior owner has a certain period of time to "redeem" the house. The right of redemption typically is three months long, unless more than one-third of the indebtedness had been previously paid, in which event the period of redemption extends to twelve months. During this period of time, the owner may "redeem" the property if the owner pays the balance owed, including interest and costs. A foreclosed owner may transfer or sell his or her right of redemption to a third party. That transaction might be structured as a stacked sale in which the redemption occurs and the title is immediately transferred to the new owner.
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