A redemption period is a window after a foreclosure or tax sale during which the former owner can reclaim the property by paying what is owed, plus interest and costs. Tennessee gives a borrower whose house sold under a deed of trust two years to redeem it, unless the deed of trust waives that right, which most current deeds do.
Why it matters
Check your own deed of trust for a redemption waiver, because if the right was waived, the sale itself is the last chance to act.
In Tennessee: Tenn. Code Ann. § 66-8-101. This can work differently in another state.
General information, not legal or tax advice.