When does the right of equitable redemption typically expire?

The right of equitable redemption typically expires after a foreclosure auction takes place. This principle is rooted in the idea that the equitable right to redeem allows a borrower to reclaim their property by paying off the outstanding debt before the foreclosure process is complete. However, once the auction is held and the property is sold to the highest bidder, that right is extinguished.

This means that prior to the auction, the borrower has the opportunity to rectify any defaults and recover the property. Filing for bankruptcy, modifying the mortgage, or other circumstances do not inherently affect the expiration of the right of equitable redemption; it is specifically tied to the completion of the foreclosure auction process. Therefore, after the auction, the borrower loses the ability to redeem the property, as the new owner (typically the bank or lender) has taken title.