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1. Question
To review Chapter 11, “Principles of Real Estate Financing,” match each of the following terms to one of the descriptions below.
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- Sheriff’s sale
- Trustee’s sale
- Reinstatement
- Deed in lieu of foreclosure
- Redemption
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A judicial foreclosure, carried to its conclusion, will result in this.
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The name of the auction conducted at the conclusion of a deed of trust foreclosure.
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The right in many states, held by both mortgagors and trustors, to halt foreclosure proceedings by paying off the delinquency plus costs.
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An arrangement that allows a defaulting borrower to transfer title to the lender while avoiding a foreclosure action.
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An alternative to reinstatement that some states provide to borrowers, which gives them the right to stop foreclosure proceedings by paying off the entire loan amount, plus costs and interest.
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