Miray borrows $150,000 from Community Bank to buy a home. If she fails to make payments on

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Miray borrows $150,000 from Community Bank to buy a home. If she fails to make payments on the mortgage, the bank has the right to repossess and auction off the property securing the loan. This is

a. a short sale.

b. forbearance.

c. foreclosure.

d. the equitable right of redemption.

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Business Law Text And Exercises

ISBN: 9780357717417

10th Edition

Authors: Roger LeRoy Miller, William E. Hollowell

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Question Posted: Feb 26, 2024 09:00 AM

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Miray borrows $150,000 from Community Bank to buy a home. If she fails to make payments on

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c foreclosure Foreclosure is the legal process by which a lender typically a bank or ...View the full answer

Business Law Text And Exercises

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