Which of the Following Statements Is True About Foreclosure

question 21

Multiple Choice

Which of the following statements is true about foreclosure?

• A) In judicial foreclosure,property subject to attachment and execution is limited to the mortgaged property
• B) If the sale of the mortgaged property realizes a price above the claims of the mortgage and expense of the sale,the balance goes to the mortgagor
• C) Redemption can be accomplished by paying 95% of the debt,interest and costs due to mortgage
• D) None of the above

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Definitions:

Operating Budgets

Financial plans that outline the projected revenue, expenses, and profit for the operations of a business within a specific period.

Sales Revenue

The income received from selling goods or services over a period of time.

Budgeted Sales Revenue

Projected income from sales over a certain period, used for planning and forecasting operations.

Sales Increase

A rise in the volume or value of products or services a business has sold within a specific period.