Foreclosure is an action through which the mortgage holder takes the property from the mortgagor, ends the mortgagor's rights in the property, and sells the property to pay the mortgage debt.

Question

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Foreclosure is a legal process where the lender (mortgage holder) seeks to recover the balance of a loan from a borrower (mortgagor) who has stopped making payments by forcing the sale of the asset used as the collateral for the loan, thereby ending the mortgagor's rights in the property.

Foreclosure Is an Action Through Which the Mortgage Holder Takes