The right of a borrower who is in default to pay all delinquent payments plus expenses and resume the monthly payments is known as

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The right of a borrower in default to pay all delinquent payments plus expenses and resume the monthly payments is known as the right to reinstate. This allows the borrower to avoid foreclosure and keep their property. Option B is incorrect as the right to acceleration refers to the lender's right to demand payment of the entire loan balance due to default. Option C, the holder in due course, refers to someone who acquires a negotiable instrument, such as a promissory note, in good faith for value and without notice of any defects in the instrument. Option D, the right of rescission, typically applies to certain types of consumer transactions and allows the borrower to cancel the loan within a specified timeframe after closing. The right of a borrower who is in default to pay all delinquent payments plus expenses and resume the monthly payments is known as the right to reinstate. This allows the borrower to avoid foreclosure by getting their mortgage back in good standing. Option B (right to an acceleration) refers to the lender's right to demand full payment of the loan if the borrower defaults. Option C (status as a holder in due course) refers to a legal term for someone who has received a negotiable instrument (such as a promissory note) in good faith and for value, and has a higher level of legal protection for their ownership rights. Option D (right of rescission) refers to a borrower's right to cancel certain types of loans within a specific timeframe after signing the loan documents.

The Right of a Borrower Who Is in Default to Pay