Right of redemption pertains to judicial foreclosures. In CA most foreclosure are done via Trustee’s sales. We really are a not getting mortgages on our proeprties we are getting loans with a promissory note and giving bare legal title to a third party the “trustee” with the trust deed that gives them the authority to forecloses for the “beneficiary” who is the entity to which(whom?) the payment is promised.

Mortgage broker and mortgage, the way we use those terms are sort of misleading, because a mortgage is a legal instrument not a loan.

In other words, if you are buying in CA or other “trust deed” states there is less to worry about from the previous owner when you buy a foreclosure. If you are buying in other states you need to find out how things work there. There may be the occasional judicial foreclosure in California but I don’t recall when and why that might happen if it does.