What Is Redemption Period?

The redemption period is a second chance built into some states' foreclosure laws. During it, the original homeowner can buy back the property by paying the redemption amount in full.

Michigan provides a 6-month redemption period after the sheriff's sale for most residential properties (MCL §600.3240) — meaning you legally still hold an interest in the home and can sell it during that window. Tennessee provides virtually no redemption after a trustee's sale. Florida provides no redemption once the Certificate of Sale is filed.

This difference is critical: in Michigan you may still have options even after the sale, while in Tennessee and Florida you generally must act before the sale happens.