Redemption and Deficiency Judgments in Vermont
Whether you can buy back your home after a foreclosure sale in Vermont, and whether the lender can sue for what's still owed.
Short answer: Vermont's redemption period comes after the court's judgment and before any sale. For an owner-occupied principal residence or farmland, it is six months from the date of the decree unless the court orders a shorter time, considering factors such as equity in the property, unpaid taxes… 12 V.S.A. §§ 4946(b), 4949
| Redemption after the sale | Vermont's redemption period comes after the court's judgment and before any sale. For an owner-occupied principal residence or farmland, it is six months from the date of the decree unless the court orders a shorter time, considering factors such as equity in the property, unpaid taxes and the property's condition. The homeowner can still redeem up to the public sale by paying the full judgment amount and post-judgment costs. Source: 12 V.S.A. §§ 4946(b), 4949 |
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| Deficiency judgments | Yes, if requested. The lender may request a deficiency judgment in the foreclosure complaint, and the court may enter one against the borrower if the sale proceeds do not cover the sale expenses and the amount owed. The request must be made before the court confirms the sale; failing to request it is treated as a waiver of any deficiency judgment against the borrower. Source: 12 V.S.A. § 4954(d) |
More Vermont foreclosure & homeowner law
- How Foreclosure Works in Vermont
- Getting Your Home Back After a Tax Sale in Vermont
- All Vermont foreclosure & homeowner law rules
FAQ
Is there a right of redemption after foreclosure in Vermont?
Vermont's redemption period comes after the court's judgment and before any sale. For an owner-occupied principal residence or farmland, it is six months from the date of the decree unless the court orders a shorter time, considering factors such as equity in the property, unpaid taxes and the property's condition. The homeowner can still redeem up to the public sale by paying the full judgment amount and post-judgment costs.
Can the lender come after you for the rest of the loan after foreclosure in Vermont?
Yes, if requested. The lender may request a deficiency judgment in the foreclosure complaint, and the court may enter one against the borrower if the sale proceeds do not cover the sale expenses and the amount owed. The request must be made before the court confirms the sale; failing to request it is treated as a waiver of any deficiency judgment against the borrower.
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.