Profile picture for dswain2011

What is the difference between a redemption bond and an indemnity letter?

I just recently put an offer in on a home that was forclosed in sept and bought by an investor.  My realtor and I included in the offer we required a redemption bond and were countered with an indemnity letter.  What is the difference and who is liable for the remainder of the mortgage if the former owner exercises their right of redemption?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 01 2011 - Madison
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 100 Dublin Cir, Madison, AL Home For Sale
    100 Dublin Cir, Madison, AL 35758

     For Sale: $151,874

    • Beds: 1
    • Sqft: 4138
    • Baths: 2.5
    • Lot: 28749
  2. 128 Long Bow Dr, Madison, AL Home For Sale
    128 Long Bow Dr, Madison, AL 35758

     For Sale: $104,200

    • Beds: 1
    • Sqft: 2101
    • Baths: 1.5
    • Lot: 11325
  3. 112 Ambergate Dr, Madison, AL Home For Sale
    112 Ambergate Dr, Madison, AL 35756

     For Sale: $359,900

    • Beds: 4
    • Sqft: 3154
    • Baths: 3.0
    • Lot: 16975