The 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 is known as:
A) foreclosure.
B) equity of redemption.
C) adverse possession.
D) execution of a deed of trust.

Question

Quizplus · Accepted Answer

Foreclosure is the legal process by which a lender takes control of a property, evicts the homeowner, and sells the home after the homeowner is unable to make full principal and interest payments on his or her mortgage, as stipulated in the mortgage contract.

The Action Through Which the Mortgage Holder Takes the Property