In some states, the mortgagor has a statutory right to redeem the property after a foreclosure sale.

Name: In some states, the mortgagor has a statutory right to redeem the property after a foreclosure sale.
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This is known as the statutory right of redemption, which allows a mortgagor to reclaim their foreclosed property by paying the full sale price, plus certain additional costs and interest, within a specific period after the foreclosure sale.

In Some States, the Mortgagor Has a Statutory Right to Redeem