Question
Which of the following is an accurate description of statutory redemption? a. A seller demands that a buyer in default pay the full amount of
Which of the following is an accurate description of statutory redemption?
a. A seller demands that a buyer in default pay the full amount of outstanding debt on a mortgaged property.
b. A buyer in default pays the full amount of outstanding debt on a mortgaged property, plus interest and the other associated costs, after the foreclosure sale.
c. A buyer in default purchases their property after a foreclosure sale for the full amount of the original purchase price only. The outstanding debt does not include any fees or costs incurred.
d. A buyer in default pays the full amount of outstanding debt on a mortgaged property, plus interest and other associated costs, before the property is sold by the lender.
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