Q: Hello, a homeowner's right to redemption in Tennessee applies unless their is a waiver in the HELOC contract? Thank you.
We are also seeking loss mitigation but in the event that fails, I want to be sure that our right to redemption legal protections will apply. I have looked over the HELOC contract and I haven't seen a waiver in regards to our right to redemption protections. Thank you so much for reading this.
A: You will need an attorney to search the title and read the terms of all security instruments. Most likely you waived any redemption rights when you got a loan. Even if you did not, you will need to be ready to exercise such a redemption or it will be waived.
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