This quiz has been taken 13 times.
Average score: 38%
When a lender forecloses on a property, they must:
The correct answer is "Either one, depending on the laws of the state where the property is located."
What is the difference between judicial and non-judicial foreclosure?
The correct answer is "A judicial foreclosure requires the lender to prove a right to foreclose from a court before they foreclose."
When a lender forecloses a house and then resells it to a new buyer...
The correct answer is "The lender keeps the profit and can sue for a deficiency even if the property sold for much more than it was owed."
A redemption period is...
The correct answer is "#1 and #3 only"
Which of the following can delay or stop a foreclosure?
The correct answer is "A short sale in which the bank accepts less than is owed on the property."