Redemption and Deficiency Judgments in Washington
Whether you can buy back your home after a foreclosure sale in Washington, and whether the lender can sue for what's still owed.
Short answer: After a non-judicial trustee's sale, no one has any right to redeem the property. After a judicial foreclosure sale, the borrower (or another redemptioner) may redeem within one year after the sale, or within eight months if the mortgage states the property is not used mainly for farming… RCW 61.24.050(1); RCW 6.23.020(1)
| Redemption after the sale | After a non-judicial trustee's sale, no one has any right to redeem the property. After a judicial foreclosure sale, the borrower (or another redemptioner) may redeem within one year after the sale, or within eight months if the mortgage states the property is not used mainly for farming and the lender expressly waived a deficiency judgment in its complaint, unless redemption rights were cut off under RCW 61.12.093 and following. |
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| Deficiency judgments | After a non-judicial trustee's sale, a deficiency judgment may not be obtained against the borrower, grantor or guarantor, except in limited situations for deeds of trust securing commercial loans (and those exceptions do not apply to a property the borrower occupies as a principal residence on the sale date). Source: RCW 61.24.100 |
More Washington foreclosure & homeowner law
- How Foreclosure Works in Washington
- HOA Liens and Foreclosure in Washington
- Getting Your Home Back After a Tax Sale in Washington
- All Washington foreclosure & homeowner law rules
FAQ
Is there a right of redemption after foreclosure in Washington?
After a non-judicial trustee's sale, no one has any right to redeem the property. After a judicial foreclosure sale, the borrower (or another redemptioner) may redeem within one year after the sale, or within eight months if the mortgage states the property is not used mainly for farming and the lender expressly waived a deficiency judgment in its complaint, unless redemption rights were cut off under RCW 61.12.093 and following.
Can the lender come after you for the rest of the loan after foreclosure in Washington?
After a non-judicial trustee's sale, a deficiency judgment may not be obtained against the borrower, grantor or guarantor, except in limited situations for deeds of trust securing commercial loans (and those exceptions do not apply to a property the borrower occupies as a principal residence on the sale date).
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.