Skip to Content
Atlas Consumer Law Atlas Consumer Law
Advocating for the Rights of Our Clients Nationwide 312-313-1613
Top
How Does the Right of Redemption Work as a Foreclosure Defense?

How Does the Right of Redemption Work as a Foreclosure Defense?

Michael Poe: An Example of a Redemption

Michael is a mobile application developer. During the economic downturn, he was laid off from his job and fell behind on his mortgage payments. While he was unemployed, he spent his time developing applications for use with social media platforms. A judgment was entered against him in his mortgage foreclosure case. The judgment amount was $385,730.00. A month after the judgment was entered, a large social media platform offered to purchase one of Michael's applications for integration into its website's services.

The application, which made it easier for people to find food and drink specials in their immediate area, had become very popular in the Chicago area. The company purchasing Michael's application gave him $750,000.00 and some stock in the company. After paying his taxes, Michael was able to pay the judgment amount to his lender. This amount was sufficient to redeem Michael's loan. He now owns his home free-and-clear and the foreclosure lawsuit was dismissed.

Continue Reading Read Less

Hear From Our Happy Clients

Reviews & Testimonials

At Atlas Consumer Law, your satisfaction is our priority! See for yourself what our clients have to say about working with us.

    I was so stressed out, found Atlas Consumer Law & gave them a call!

    I had absolutely NO exceptions going forward with my lawsuit against a company that harassed me for payment! I was at the ...

    Pam S.

    So Helpful & Responsive!

    Everyone at Atlas was so willing to help and so responsive. I'm so grateful for the work they put in on my case! Would highly ...

    Stephanie M.

    Results Fast!

    THEY GOT RESULTS FAST FAST FAST!!!

    Jake B.

    Can Do Attitude All the Way!

    Atlas consumer Law is amazing and they have the CAN DO attitude and will do anything to get the job done.. I highly recommend ...

    Donnie P.

    Thank you for educating me about my rights as a consumer!

    The Atlas Consumer Law Group is Awesome. They promptly took care of my issue with a creditor who tried to ignore my rights as ...

    Belinda W.

    Absolutely Amazing!

    I am absolutely AMAZED at this law group! I started a case in March and got it solved in early May! The debt collector was ...

    Aline G.

    Atlas Consumer Law Goes Above & Beyond!

    Atlas helped us within 6 months more or less and they were an awesome team. I would definitely recommend Atlas Consumer Law ...

    Llyod G.

    Atlas Consumer Law is on Your Side!

    When you need the law on you side call Atlas!

    Arlene B.

Stay In The Know

Why Choose Atlas Consumer Law?

  • Secured a Fresh Start to Thousands of Consumers
  • Assisted Thousands with Errors on their Credit Reports
  • Secured Millions of Dollars in Recovery for Our Clients
  • Eliminated Over A Billion Dollars of Debt for Our Clients

Contact Atlas Consumer Law Today!

Talk to the leading law firm in the country about your rights for free! Fill out the form below or give us a call at (312) 313-1613 and we would be happy to give you the answers you need to make informed decisions for yourself and your family.

  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.
  • By submitting your information or contacting Sulaiman Law Group, Ltd., and/or Atlas Consumer Law ("the firms"), you consent to receive automated communications, including autodialed calls, pre-recorded messages, texts, and emails from the firms, their agents, assignees, affiliates, or any affiliated parties. This consent applies to all contact details you provide, as well as to future communication technologies. Using the internet or other methods to communicate with the firms does not establish an attorney-client relationship; therefore, avoid sharing confidential information through these channels. Please note that all calls may be recorded for quality assurance and training purposes. To opt-out of communications, reply with "STOP" to any text message, click the "unsubscribe" link in any email, or send a written request to the firm's mailing address. Your continued interaction with the firms signifies your acceptance of these terms. You agree to indemnify the firms against any claims arising from the use of these communication methods. The firms are not liable for any communication failures. Disputes arising under this agreement are governed by Illinois law, with jurisdiction exclusively in the courts of DuPage County, Illinois, or the nearest federal district court. These terms are subject to change, and your continued communication with the firms implies your agreement to any such changes. If any part of this agreement is found invalid, the remaining sections will remain effective. This agreement is in compliance with the Telephone Consumer Protection Act (TCPA) and applicable state laws.