Where default occurs,and real estate markets are falling,the mortgagee will likely want to realize on the security in the quickest suitable manner,which is

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In a situation where the real estate market is falling and default occurs, the mortgagee will want to realize on the security in the quickest suitable manner. The best option for this would be a sale under power of sale. This allows for a quick sale of the property without having to go through the lengthy and costly process of foreclosure. The mortgagee can sell the property themselves or through a real estate agent, with the proceeds going towards paying off the outstanding mortgage debt.

Where Default Occurs,and Real Estate Markets Are Falling,the Mortgagee Will