Property Ownership
In Tennessee, a 'right of redemption' after a mortgage foreclosure allows the borrower to:
AReclaim the property only before the foreclosure sale
BReclaim the property after the foreclosure sale by paying the full debt within the statutory redemption period✓ Correct
CRenegotiate the loan terms after foreclosure
DDispute the foreclosure sale price in court for up to 5 years
Explanation
Tennessee provides a statutory right of redemption allowing the former borrower to reclaim the property after a foreclosure sale by paying the full amount owed. The redemption period is 2 years for deed of trust foreclosures.
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