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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Basic, basic question about MN redemption Posted by Angela on June 30, 2003 at 8:13 PM I just can't seem to get this redemption thing. If the house sells at sale for $80k, owner owed $100k, and I go in and get the deed and redeem during the redemption period, do I pay the $80k or the $100k? Does the money from the sale go to the bank after the auction ($80k) if there is another bidder other than them that takes them out of the loop, or is it held in escrow until the redemption period is over and then distributed? In other words, who do I pay? If the bank is the one that bids and they bid less than what was owed, what needs to be paid to redeem? Thanks, it's amazing all the complicated parts of this I understand and how I don't know the answer to this question. Follow Ups: Re: Basic, basic question about MN redemption Barry-MN 4:52 PM, 07/01/03 (2) But I've seen them bid less.. Angela 4:56 PM, 07/01/03 (1) Re: But I've seen them bid less.. Tom (MI) 4:42 PM, 07/09/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I just can't seem to get this redemption thing. If the house sells at sale for $80k, owner owed $100k, and I go in and get the deed and redeem during the redemption period, do I pay the $80k or the $100k? Does the money from the sale go to the bank after the auction ($80k) if there is another bidder other than them that takes them out of the loop, or is it held in escrow until the redemption period is over and then distributed? In other words, who do I pay? : If the bank is the one that bids and they bid less than what was owed, what needs to be paid to redeem? : Thanks, it's amazing all the complicated parts of this I understand and how I don't know the answer to this question. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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