Reinstatement Period Law and Legal Definition
Reinstatement period is a phase where a borrower has an opportunity to stop a foreclosure by paying money which the borrower owes to a lender. The mortgage reinstatement period begins when the lender files legal document with the court to start foreclosure proceedings. The period ends when the legal proceedings are over. During the period the borrower can stop all the foreclosure proceedings by making the loan current and paying all fees that the borrower has incurred which includes legal and filing fees and any late charges.