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Redeemed Foreclosure Definition

Posted by Lewis on June 12, 2002 at 8:21 PM

Could you please give me the legal definition of a redeemed foreclosure? (As stated in a credit report.)
In case I can't understand the legal jargon...is it possible to have a redeemed foreclosure if the house was NOT actually foreclosed on, but sold by the owners, have a zero balance,and a court document stating the final judgement of foreclosure is set aside and declared null and void as well as the foreclosure sale cancelled?
Thank you very much for any insight you can provide!


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