Lenders Bank provides Molly with a mortgage to buy a home. Six years into the term of the loan, Molly loses her job and is unable to make the payments. Possible methods for these parties to avoid foreclosure include all of the following except

Question

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A prepayment penalty is a fee charged to a borrower who pays off a loan early, and it does not help avoid foreclosure. The other options are methods to help avoid foreclosure.

Lenders Bank Provides Molly with a Mortgage to Buy a Home