I have a summer cabin that will be foreclosed on soon and I know the redemption period is 6 months or 30 days if the property is deemed abandoned. My question is what is the definition of abandoned? I don't live there but I am still trying to sell the place and I have lots of personal property there. Do I have 6 months? Would I just send a letter to the bank stating that I am NOT abandoning the cabin?
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Abandoned by the bankruptcy trustee?
Would mean he decided that to sell that cabin would reap him no rewards or cash to pay creditors, so he abandoned it, meaning it would still belong to you even though it was nonexempt property- therefore, I believe that you could keep making payments and keep it. But it can still be foreclosed on if you are in default to the lender.
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