Redemption

To buy back one's property, such as after a judicial sale or before a trustee's sale.

Redemption represents the rights of a mortgagor to re-claim the mortgaged property. It is for this reason that it is commonly said that “once a mortgage, always a mortgage”.

It is rare for a mortgagor to lose this right to redeem the mortgaged property and if he has to lose it, then it must be through a court order.