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