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Foreclosure is a process that: Question 21 options: 1) returns the property to a borrower when...

Foreclosure is a process that: Question 21 options:

1) returns the property to a borrower when the loan is paid off

2) is consistent in all states as required by federal law

3) is exercised by a buyer of the property

4) none of the above

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Answer #1

Option (4) is correct

None of the choices given are correct.

Foreclosure is a process when the borrower fails to make the payment of the loan and the lender tries to recover the balance by making or forcing the sale of the mortgaged asset or collateral.

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