Ron borrows funds from Suburban Bank secured by Ron$$s house. Ron defaults on the debt. The bank$$s options include

Ron borrows funds from Suburban Bank secured by Ron$$s house. Ron defaults on the debt. The bank$$s options include

repossessing the collateral and disavowing the security interest.

retaining the security interest and pursuing a judicial remedy.

disposing of the collateral in any commercially reasonable manner.

destroying the collateral and collecting the unpaid debt from Ron.