A judgment against a debtor for the unpaid balance still due after judicial foreclosure of a real estate mortgage is called a right of redemption.

Question

A judgment against a debtor for the unpaid balance still due after judicial foreclosure of a real estate mortgage is called a right of redemption.​

Quizplus · Accepted Answer

A judgment against a debtor for the unpaid balance still due after judicial foreclosure is called a deficiency judgment, not a right of redemption. The right of redemption refers to the debtor's right to reclaim their foreclosed property by paying off the full amount owed before the foreclosure sale.

A Judgment Against a Debtor for the Unpaid Balance Still