WE BUY REDEMPTION RIGHTS!
What are Redemption Rights?
Redemption rights are nothing more than a legal right which gives a homeowner a “second chance” at redeeming their property even after it has gone to auction. Typically, this must be done within 30 days of the foreclosure sale being approved by the court, however, the redemption has to be an all cash redemption. As you can guess, 99% of people do not have the cash to redeem their property.
Here’s a breakdown of the law. New Mexico State statute says in part:
39-5-18 (A)2 - Redemption of real property sold under judgment or decree of foreclosure;
After sale of real estate pursuant to the order, judgment or decree of foreclosure in the district court, the real estate may be redeemed by the former defendant owner of the real estate or by any junior mortgagee or other junior lienholder whose rights were judicially determined in the foreclosure proceeding by filing a petition for redemption in the pending foreclosure case in the district court in which the order, judgment or decree of foreclosure was entered.
Can I sell my Redemption Rights?
YES! Fortunately, New Mexico along with other states permit homeowners to sell their Right of Redemption. In New Mexico, this is a very common practice. Here’s where we come in. The process of selling your redemption rights is a simple 3-step process:
This is a great opportunity to walk away with some money from a situation where many people walk away with nothing. Whether your property is already headed to auction OR has already been auctioned, there may still be time to act but time is of the essence because the redemption period for us to act is 30 days from the date of the auction. Call us today to see what we can offer you! And of course, there's never any obligation!
CLICK HERE for a great article about Redemption Rights from the Albuquerque Journal.
Redemption rights are nothing more than a legal right which gives a homeowner a “second chance” at redeeming their property even after it has gone to auction. Typically, this must be done within 30 days of the foreclosure sale being approved by the court, however, the redemption has to be an all cash redemption. As you can guess, 99% of people do not have the cash to redeem their property.
Here’s a breakdown of the law. New Mexico State statute says in part:
39-5-18 (A)2 - Redemption of real property sold under judgment or decree of foreclosure;
After sale of real estate pursuant to the order, judgment or decree of foreclosure in the district court, the real estate may be redeemed by the former defendant owner of the real estate or by any junior mortgagee or other junior lienholder whose rights were judicially determined in the foreclosure proceeding by filing a petition for redemption in the pending foreclosure case in the district court in which the order, judgment or decree of foreclosure was entered.
Can I sell my Redemption Rights?
YES! Fortunately, New Mexico along with other states permit homeowners to sell their Right of Redemption. In New Mexico, this is a very common practice. Here’s where we come in. The process of selling your redemption rights is a simple 3-step process:
- We agree on a price we’re willing to pay for your rights.
- We will meet you at our company’s bank where you sign the rights in front of a Notary (because this is a legal document to be filed in District Court).
- We will then give you certified funds or cash as agreed. If you are still occupying the property, we can agree on a time frame in which you will need to vacate according to our agreed upon terms. Our company then uses the redemption rights to redeem/buy the property through the courts.
This is a great opportunity to walk away with some money from a situation where many people walk away with nothing. Whether your property is already headed to auction OR has already been auctioned, there may still be time to act but time is of the essence because the redemption period for us to act is 30 days from the date of the auction. Call us today to see what we can offer you! And of course, there's never any obligation!
CLICK HERE for a great article about Redemption Rights from the Albuquerque Journal.
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