Foreclosure & Redemption

National · Financing & Lending — free cheat sheet for the real estate licensing exam.

🏦 Financing & Lending

📋 The 1-minute cheat sheet

Judicial: court-ordered sale (mortgage states) — slower, allows deficiency judgments
Non-judicial: trustee's power of sale (deed-of-trust states) — faster, no court
Equitable redemption: pay off BEFORE the sale to keep the property
Statutory redemption: some states allow buying it back AFTER the sale
Alternatives: short sale (lender takes less) & deed in lieu (hand back the keys)

Is Foreclosure & Redemption on the real estate exam?

Yes. Financing & Lending is a scored domain on the real estate licensing exam, and this topic appears in the national portion.

Is this cheat sheet free?

Yes — every page on CinnaPrep's resource library is free to read, print and share. The app adds practice questions, mock exams and a readiness score.