A right that allows the mortgagor to redeem real property after default and before foreclosure is known as ________.

Question

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Right of redemption allows the mortgagor to redeem their property after default but before foreclosure. The mortgagor can pay off the outstanding balance and penalties to avoid foreclosure. Garnishment is a legal process where a creditor collects funds from a debtor's wages or bank account. Lien release is a process where a lien on a property is removed after a debt has been paid off. Power of sale is a clause in a mortgage that allows the lender to sell the property without going through a court process in the event of a default.

A Right That Allows the Mortgagor to Redeem Real Property