The Right of Redemption…

As I mentioned last week, Fannie Mae just enacted new rules making properties with unexpired Rights of Redemption ineligible as properties with unacceptable title defects, which could be problematic. However, other financing options should be available.

In the past, Sellers have been quick to disclose that the Right of Redemption may apply to a property. Going forward, we could see a disclosure of the Right of Redemption period expiration date.

Now in closing, let me remind you: I am not an attorney and do not represent this description as a substitute for legal advice.

Until next week… May the market be with you.

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