Which of the following is true of the right of redemption for mortgages?
A) The mortgagor has to pay the full amount of the debt incurred by the mortgagee.
B) The title of possession is passed on to the mortgagee upon completion of redemption.
C) The mortgagee is allowed to pay back partial interest until the statutory period of redemption.
D) The right to redemption is enacted after the foreclosure is complete.

Question

Quizplus · Accepted Answer

The right of redemption for mortgages requires the mortgagor to pay the full amount of the debt incurred by the mortgagee, including any interest and fees. This allows the mortgagor to reclaim their property. The right of redemption is a legal right that exists before and after foreclosure.

Which of the Following Is True of the Right of Redemption