________ is the process of taking possession of the mortgaged property to satisfy the debt in the event of failure to repay the mortgage and foregoing claim to any deficiency.

Question

Quizplus · Accepted Answer

Foreclosure is the legal process in which a lender takes possession of the mortgaged property to satisfy the debt in the event of failure to repay the mortgage and foregoing claim to any deficiency. It involves selling the property in a public auction to recover the outstanding debt.

________ Is the Process of Taking Possession of the Mortgaged