Short Sale Recapture?

[Josh Oaten]

Hello All, I understand that during and sometimes after a foreclosure, depending on the state, that there is a specific period of time that the “defaulted homeowner” can recapture the property. I am wondering if this is the same case with a short sale? From what I understand, a short sale is an agreement between the current “defaulted homeowner” and lender to sell at a price that will attempt to cover the mortgage, but once put under contract or sold does the “defaulted homeowner” have the option to recapture the home in a short sale as they may in a foreclosure? Thanks, Josh Oaten

[Blair Poelman]

There is no recapture on a shortsale.  Your thinking of a right of redemption on a foreclosure, which some states have, some don't.