Ian's mortgage debt to Jeff is past due. Jeff brings a legal action against Ian to collect the debt. Jeff asks the court to order the sale of the mortgaged property and the payment of a portion of the proceeds to Jeff. This is a request for

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Jeff's request for the sale of the mortgaged property and payment from the proceeds indicates that he is seeking a foreclosure. A deficiency judgment is a court order to pay the difference between the amount owed on a debt and the amount received from the sale of the collateral, which may be requested after a foreclosure. A right of reimbursement pertains to someone who pays a debt on behalf of another and seeks to be reimbursed for the payment. Redemption is the right of a debtor to pay off a debt and reclaim their property before the foreclosure sale.

Ian's Mortgage Debt to Jeff Is Past Due