When a Default Occurs, the Mortgagee Will Likely Want to Realize

question 51

Multiple Choice

When a default occurs, the mortgagee will likely want to realize on the security in the quickest suitable manner, which is:

• A) Foreclosure
• B) Power of sale
• C) Sale
• D) Discharge

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Definitions:

Fraudulent

Involving deceit or trickery intended to gain an unfair or unlawful advantage.

U.S. Mail

The federal postal service in the United States, responsible for the collection, transportation, and delivery of mail and packages.

Commercial Bribery

The act of offering, giving, receiving, or soliciting something of value to influence the actions of an official or other person in charge of a public or legal duty.

Public Official

A person holding a position of authority or service in a government or public service organization.