What happens to a foreclosed mortgagor two months after a mortgage foreclosure sale is confirmed?

When a mortgage foreclosure sale is confirmed, the foreclosed mortgagor loses their right of redemption. The right of redemption allows a borrower to reclaim their property after foreclosure by paying the outstanding amount due on the mortgage, including any associated costs. In Hawaii, this right typically lasts until the foreclosure sale is confirmed. Once the confirmation occurs, the mortgagor can no longer redeem the property or recover it through payment, solidifying the transaction and transferring full ownership to the new owner.

This loss of redemption rights is critical as it signifies the finality of the foreclosure process, indicating that the former owner no longer has any claim over the property. Understanding this process underscores the importance of borrowers being aware of their rights and the implications of foreclosure proceedings.