When a borrower defaults on the payment requirements of a loan,there are several options that the lender has at its disposal.When the lender allows the borrower simply to convey the property to the lender rather than pursuing a court supervised process of terminating all of the borrower's claims of ownership of the property,this is commonly referred to as:

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All the options listed in the question are related to default on loan payments, but the best choice is C) Deed in lieu of foreclosure. This option allows the borrower to convey the property to the lender to avoid foreclosure proceedings. It is a quicker and less expensive option compared to foreclosure, and it also avoids negative impacts on the borrower's credit score. The lender is likely to accept a deed in lieu of foreclosure when the value of the property is lower than the outstanding mortgage balance, making this option a viable solution for both parties.

When a Borrower Defaults on the Payment Requirements of a Loan,there