A Bank Took Immediate Possession of Real Property for the Non

question 46

Multiple Choice

A bank took immediate possession of real property for the non payment of a mortgage installment on its due date.It is taking steps to have the property sold.The bank is aware that,due to poor market conditions,the amount of the mortgage is higher than the value of the property.What are the most likely legal matters that will come before the courts?

• A) distress and equity redemption
• B) default and deficiency
• C) foreclosure and deficiency
• D) foreclosure and court supervised sale

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Definitions:

Activity Theory

Theory of aging that holds that to age successfully a person must remain as active as possible.

Disengagement Theory

A theory suggesting that aging involves an inevitable process of withdrawal from social relationships and roles, leading to increased introspection and self-focus.

Compensation Theory

A hypothesis suggesting that individuals will excel in one area to balance out deficits in another area.

Coping Strategies

Techniques or methods used to manage stress and difficult situations.