Redemption and Deficiency Judgments in California
Whether you can buy back your home after a foreclosure sale in California, and whether the lender can sue for what's still owed.
Short answer: After a judicial foreclosure sale where redemption applies, the owner may redeem within three months after the sale if the sale proceeds covered the debt, interest and costs, or within one year if they did not. Cal. Code Civ. Proc. § 729.030; Cal. Civ. Code § 5715
| Redemption after the sale | After a judicial foreclosure sale where redemption applies, the owner may redeem within three months after the sale if the sale proceeds covered the debt, interest and costs, or within one year if they did not. The California statutes reviewed do not provide a general post-sale redemption right after a lender's trustee's sale, but a nonjudicial foreclosure by a homeowners' association is subject to a 90-day right of redemption. |
|---|---|
| Deficiency judgments | Largely barred for homeowners. No deficiency may be owed or collected after a trustee's sale under a power of sale. No deficiency may be owed on a seller-financed purchase loan, or on a lender's loan used to buy a dwelling of up to four units that the buyer lives in (a "purchase money loan"), or on a refinance of such a loan except for any new money advanced. These protections do not change a guarantor's liability. |
More California foreclosure & homeowner law
- How Foreclosure Works in California
- HOA Liens and Foreclosure in California
- Getting Your Home Back After a Tax Sale in California
- All California foreclosure & homeowner law rules
FAQ
Is there a right of redemption after foreclosure in California?
After a judicial foreclosure sale where redemption applies, the owner may redeem within three months after the sale if the sale proceeds covered the debt, interest and costs, or within one year if they did not. The California statutes reviewed do not provide a general post-sale redemption right after a lender's trustee's sale, but a nonjudicial foreclosure by a homeowners' association is subject to a 90-day right of redemption.
Can the lender come after you for the rest of the loan after foreclosure in California?
Largely barred for homeowners. No deficiency may be owed or collected after a trustee's sale under a power of sale. No deficiency may be owed on a seller-financed purchase loan, or on a lender's loan used to buy a dwelling of up to four units that the buyer lives in (a "purchase money loan"), or on a refinance of such a loan except for any new money advanced. These protections do not change a guarantor's liability.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.