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What Remedies Are Available to the Mortgagee (Lender)in the Event

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Essay

What remedies are available to the mortgagee (lender)in the event of default by the homeowner?


Definitions:

Fixed-Ratio

A schedule of reinforcement where a response is reinforced only after a specified number of responses have occurred.

Variable-Ratio

A reinforcement schedule where a response is reinforced after an unpredictable number of responses, promoting high and steady response rates.

Contingency

A future event or circumstance that is possible but cannot be predicted with certainty, often used in psychology to describe the relationship between behavior and its consequences.

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