Question: When the lender sues the borrower to prove default and asks the court to order the sale of the property to pay the debt, it

When the lender sues the borrower to prove default and asks the court to order the sale of the property to pay the debt, it is called foreclosure.
a. True b. False

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

TRUE OF FALSE QUESTIONS. 1 - When a loan is paid off over a shorter period of time, the total interest costs are reduced. 2- The term cooperative describes a method of ownership for housing rather...

Q:

Loan-to-value ratio A. The money a potential house buyer pledges to show his or her good faith when making an offer Points or interest points Escrow account Foreclosure Amortization schedule lo B....

Q:

Match the terms associated with housing decisions on the left with the descriptions of the terms on the right. Read each description carefully and type the letter of the description in the Answer...

Q:

The term that describes the process in which a lender sues a borrower to prove default and asks the court to order the sale of the property to pay the debt. what is this

Q:

Good morning i need help about the questions ( Business law) 1.What is a Lien? Lien is an encumbrance on (claim against) property to satisfy a debt or protect a claim for the payment of a debt. i...

Q:

Question 1 To be effective, an offer must: Group of answer choices None of these. be sufficiently definite and certain. manifest an intent to enter into a contract. All of these. be communicated to...

Q:

Question 1 Ambrose enters into a contract to buy Monk's Winery. If Monk breaches the contract by refusing to deliver the title to the property, Ambrose's best remedy to get the property is Select one...

Q:

Question 1 Ambrose enters into a contract to buy Monk's Winery. If Monk breaches the contract by refusing to deliver the title to the property, Ambrose's best remedy to get the property is Select one...

Q:

1. Oliver borrows money from Peerless Loan Company. For Peerless to obtain a writ of execution, Oliver must A) be unable or refuse to pay the amount of a judgment. B) be unable to redeem Olivers...

Q:

I need a solution to this question in number 3 of real estate finance on an article called working at workout: commercial real estate debt in distress. 3. Calculate the expected return (IRR) to drive...

Q:

I have a theory that if you ask participants to sort one-sentence characteristics of people (e.g., I eat too fast) into five piles ranging from not at all like me to very much like me, the percentage...

Q:

Using the following partial listing of T accounts, prepare closing entries in general journal form dated May 31, 20--. Then post the closing entries to the Taccounts. Income Supplies Expense 900 Cash...

Q:

De las cuentas personales que mantiene un trabajador en una AFP, cul de ellas se traspasa obligatoriamente por el hecho de ingresar una OTE? 1 punto a) La cuenta de capitalizacin individual de...

Q:

Can you elucidate the role of molecular chaperones and protein quality control systems in maintaining the integrity and homeostasis of the cytoplasm, particularly under conditions of cellular stress...