Redemption Period


 

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Redemption Period

A time period during which a mortgage, landcontract, deed of trust, etc., can be redeemed. Usually set by statute, and after judicial foreclosure.



Redemption Period

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Redemption penalties

Redemption penalties

Charges paid to the lender in compensation for lost interest if you redeem your mortgage ahead of schedule. During a discount period you will be severely penalised if you try to switch to another product or mortgage provider. Penalties can be stepped just like discounts, and can be particularly severe within the first year. This is to ensure that the costs that the lender endures in setting up the mortgage are always covered. Penalties can be a fixed sum of money, though are often proportion of the loan. With cashback mortgages, you often have to repay the amount of money you received as cashback.


Extended redemption penalty

Extended redemption penalty

This is where the redemption penalty continues beyond a fixed or capped rate period, effectively tying you in to the much higher variable rate for a period of time after the fixed or capped period. As a result you get stuck paying an uncompetitive rate that eats into the gains you may have made from having the fixed rate or capped ratein the first place.


Redemption

Redemption

The re-purchase of a security, such as a bond or preferred stock, by the issuing company at or before maturity.


Redemption price

Redemption price

See: Call price


Redemption penalty overhang

Redemption penalty overhang

This is where the redemption penalty continues beyond a fixed or capped rate period, effectively tying you in to the much higher variable rate for a period of time after the fixed or capped period. As a result you get stuck paying an uncompetitive rate that eats into the gains you may have made from having the fixed rate or capped ratein the first place.


Further Suggestions

Redemption charge
Redemption
redemption yield
redemption price
Right of redemption
Redemption statement
Mandatory redemption schedule
redemption date
Redemption
Redemption fee
Preferred equity redemption stock (PERC)
Redemption cushion
gross redemption yield
Overhanging redemption penalty
Redemption date
Serial redemption
Redemption
redemption fees
right of redemption


 
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