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The Redemption Period

You are here: Home / BC Foreclosure Process / The Redemption Period

This is the length of time you’re allowed to stay in your home and try to
redeem your mortgage before the lender either sells your home or gets title
to it. The court usually sets this period at six months, though the trend
recently is to set a shorter period, particularly when the amount owed to the
lender is roughly equal to or more than the value of the property.
The courts will almost always set a very short redemption period if:
• the lender can show you’re unnecessarily damaging the property, or
• you’ve abandoned the house and it is empty

Article Source: Legal Services Society, BC

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