Can I Get My House Back if it’s Going Back to Auction?

Dealing with a house foreclosure in San Diego and the thought of your home going to auction is probably not a situation you thought you would be in when you initially set out to be homeowners. We know that being homeowners can be stressful especially when financial strains come into play. Many homeowners find themselves in situations that make it hard for them to continue to pay their mortgage. They could have medical bills piling up, divorce, job loss, or taking on the medical care of a loved one. These are just a few ways in which making your monthly payments can seem like a daunting task. Once your home has been foreclosed upon, you may still be holding out hope and asking yourself if you could possibly get your San Diego house back if it goes to auction. Today, we will break down the process to give you a realistic overview of what to expect.

It is important to note that not all states allow you to redeem your home after a foreclosure sale. Luckily, in California you do have this option. According to, “The redemption period may also depend on the type of foreclosure proceedings. For example, in California a homeowner can redeem the foreclosed property within three months to one year if the foreclosure was judicial. If it was a nonjudicial foreclosure instead, the homeowner only has ninety days after the foreclosure sale to pay the total amount of the real estate in question.” Check out our Trusted House Buyers blog that lays out the ins and outs of judicial vs. non-judicial foreclosure. A lot of the legal jargon can make your head spin! If you are wondering what the “redemption period” even means, lays it out for us. ” A ‘redemption period’ is a specific amount of time given to borrowers in foreclosure during which they can pay off the debt to “redeem” their property. Redeeming the home will stop the foreclosure. ” The homeowner does have some options:

Pay off Debt

So one of the options that a homeowner has to get themselves out of this tricky situation, is to pay of the debt. This means that the homeowner must pay off the TOTAL debt. This includes the principal balance plus costs and interest BEFORE the sale to stop the foreclosure process. If you are in the mess because of financial issues, then making this happen is usually not very realistic. This is also known as mortgage reinstatement. lays it out for us by explaining that, ” ‘Reinstating’ a mortgage loan is when a borrower gets caught up on the past-due amounts in one lump sum, which will stop a foreclosure. After a mortgage reinstatement, the borrower returns to making regular, monthly payments on the loan.”


Another option is to reimburse the person or entity that bought the property at the foreclosure sale for the purchase price. Now, in some cases, you can pay off the total amount of the mortgage debt, plus costs and interest after the foreclosure sale to reclaim the property. Again, this requires a large sum of money and when you find yourself in foreclosure situation, the reason you are here is because you are experiencing financial distress. The good news is that all states allow the borrower to redeem the property before a foreclosure sale.

Right of Redemption

Understanding the right of redemption is one way in which homeowners may be able to get their house back even if it is going to auction in San Diego. let’s us know that, “The right of redemption allows homeowners to keep their homes if they pay back what they owe even after their lender starts the foreclosure process or puts the home up for sale at public auction. In some states, the right of redemption allows delinquent homeowners to pay what they owe and get their residences back even if their lenders have already sold the home to another buyer.” Although this sounds very simple, many homeowners facing foreclosure simply can’t get to this step because they don’t have the financial means to not only reclaim their property, but continue to make their monthly mortgage payments.

Trusted House Buyers to the Rescue

Although the options listed above seem like a great way to regain your home if it is going to auction, most of the times, these options are not realistic or obtainable when you are in times of financial struggle. If you could pay yourself out of this situation, you probably wouldn’t be in it in the first place. This is where Trusted House Buyers comes to the rescue. Trusted House Buyers is a reputable and trustworthy cash buyer investor here in San Diego. We help homeowners in various situations and many times they need to sell their home quickly. We understand that each situation is unique and oftentimes sensitive. The way we work, is that we will come to your home to evaluate your property. We will let you know what our fair cash offer is based on recent market sales and comparable sales in your neighborhood. If you accept our offer, we are usually able to close within 10 days. This will allow you to have cash in your pocket to help relieve the financial burden you have been under. This will also allow you to get out of the foreclosure process to help avoid additional hits to your credit. How would it feel to finally have cash in the bank to help you move forward and past this financial road block? If working with Trusted House Buyers sounds appealing, give us a call at 619-786-0973. We will help you walk through this process and give your our knowledgeable advice and expertise every step of the way. Let us help you move on with your life.

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