Posted by Lyal on October 19, 2004 at 05:50:42:
The answer varies tremendously by State and municipality. You need a good real estate attorney right away.
Lyal
Redemption - Posted by Lorraine Edelhoff
Posted by Lorraine Edelhoff on October 08, 2004 at 20:57:39:
My brother had a first mortgage w/ Countrywide and a second w/ Bank of New York. Bank of New York foreclosed their second but never paid off the first. Countrywide then foreclosed their mortgage and was bought by a private investor at sale. I was assigned the right of redemption to the first and recorded it and got the aproval with the court to deposit funds- which i did. The attorney for the investor is claiming we did not have any rights of redemption because the first sale foreclosed out our rights. Is this true?