In an extrajudicial foreclosure of a mortgage, what is the redemption period?

• A. 90 to 120 days
• B. Registration of the sale or 3 months, whichever is shorter
• C. There is no redemption right
• D. 1 year

Answer: (D)

Redemption period refers to the time the borrower has to pay off the debt after a foreclosure sale so the property can be reclaimed. In extrajudicial foreclosure, the debtor has a one-year window starting from the date of the public sale to redeem the property by paying the total amount due (principal, interest, and costs). If redemption is made within that year, the sale is canceled and the title remains with the debtor; if not, the buyer’s deed becomes final and the property passes to the purchaser. The other options try to set shorter periods or deny any redemption, but the law establishes a fixed one-year right, making that choice the correct one.