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  2. Redemption and reinstatement are terms related to loan defaults and foreclosure12345:
    Learn more:
    While redemption is paying off the entire loan balance, reinstatement means getting current on the loan by paying just the past due amounts, to include late fees and repo costs. Unlike the right to reinstatement — every state allows some right to redemption.
    www.capitalone.com/cars/learn/managing-your-mo…
    Reinstatement involves making a single payment to catch up with everything due on a loan. By contrast, payoff involves paying the lender the total remaining balance of the loan. (Payoff before a foreclosure sale is commonly known as redemption, which is an equitable right available in every state.)
    www.justia.com/foreclosure/reinstatement-and-pay…
    With a mortgage reinstatement, you pay off past due payments and late fees to make your mortgage current. With a mortgage redemption, you pay off the entire mortgage balance, including fees. A mortgage redemption usually happens after the reinstatement period ends, but before the home is sold.
    moneytips.com/personal-finance/debt-managemen…
    Thus, to put it simply: reinstatement requires the payment of all delinquent amounts within the given reinstatement period, while redemption requires the property owner to fully pay all amounts before completion of the trustee’s sale.
    journal.firsttuesday.us/reinstatement-v-redemption/…
    When the borrower reinstates the loan by paying the amounts currently in default, all foreclosure proceedings must stop, and the loan and deed of trust are reinstated in full force and effect “as if the acceleration had not occurred.” Redemption, on the other hand, allows the borrower to pay the debt in full — i.e., the entire loan balance.
    moneyanddirt.com/2019/01/the-tender-rule-reinstat…
     
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