#750
Sally defaulted on her mortgage and subsequently missed a few payments in the process.
He lender had to begin the foreclosure process.
Before the foreclosure slae took place Sally paid back the entire amount and cured the debt.
Sally has actually excercised her rights of statutory equitable limitation.
Is this true or false ?
Take your time. The solution is posted below the wildlife photo.
A. False
Sally exercised her 'equitable right of redemption' .
There's no such thing as a statutory equitable limitation.
The equitable right of redemption is the right of a debtor to to redeem his or her interest in a property before the foreclosure sale by paying the full amount of the debt.
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