Homestead properties (where the owner lives on the property) have redemption penalties of 25% the first year and 50% the second year.

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On the second occasion, he was told, incorrectly, that he could not redeem the property even though the period of redemption had yet to expire.

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At the point they signed the mortgage, there was a sense in which the Keens no longer owned the property, although they still had a right of redemption.

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