How to Waive Right of Redemption After Foreclosure

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Step 1

Draft a waiver of right of redemption. In the alternative, the home mortgage lender likely has a standard waiver form--either to fill out or to use as a template to draft a waiver.

Step 2

Include in the waiver a concise statement that the property owner in foreclosure fully understands the right of redemption. Specifically state that she understands that she has a set amount of time to pay off the balance on the existing mortgage loan and all other fees, costs and charges and maintain ownership of the real estate.

Step 3

Insert a clause that makes clear the homeowner in foreclosure understands that the waiver of the right to redemption is irrevocable.

Step 4

Execute the waiver of right to redemption in front of a notary public. The homeowner signs the document.

Step 5

File the waiver of right of redemption with the clerk of the court in which the foreclosure case is pending.

References

Resources

About the Author

Mike Broemmel began writing in 1982. He is an author/lecturer with two novels on the market internationally, "The Shadow Cast" and "The Miller Moth." Broemmel served on the staff of the White House Office of Media Relations. He holds a Bachelor of Arts in journalism and political science from Benedictine College and a Juris Doctorate from Washburn University. He also attended Brunel University, London.

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