Question

. The right of redemption __________. Allows only the original buyer to stop foreclosure proceedings by...

. The right of redemption __________. Allows only the original buyer to stop foreclosure proceedings by purchasing the property in full. Allows only the related parties to stop foreclosure proceedings by paying the additional costs associated with the foreclosure. Allows the original buyer, and sometimes related parties, to stop foreclosure proceedings by purchasing the property in full. Enables only the related parties to stop foreclosure proceedings purchasing by the property in full. Mark for follow up.

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Homework Answers

Answer #1

Option (A) i.e. " Allows only the original buyer to stop foreclosure proceedings by purchasing the property in full" is the correct answer.

Right of redemption is the right of a homeowner (Orignal Buyer) to stop a foreclosure sale from taking place by paying off the mortgage debt OR repurchase the property after a foreclosure sale by paying a specific sum of money within a limited period of time.

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