Worth 3 points With respect to mortgages, a foreclosure action involves O (after the default and pursuant to court applications by the mortgagee) a court order setting a time limit within which the mortgage must be redeemed by paying what is overdue and costs, failing which the court may sell the property or transfer title to the mortgagee. O a clause stating that upon default of any instalment, the whole of the principal sum of the mortgage and accrued interest immediately falls due. O a right upon default to sell mortgaged land. a discharge of a definite portion of the mortgaged lands. O a subsequent purchaser taking over the responsibility of paying off the mortgage