Under which of the following systems of foreclosure does the creditor have no right to recover any deficiency between the value of the property and the amount of the debt?
A)Strict foreclosure
B)Conditional foreclosure
C)Accommodative foreclosure
D)Compensated foreclosure

Question

Quizplus · Accepted Answer

In a strict foreclosure,the creditor keeps the property in satisfaction of the debt,and the owner's rights are cut off;this means that the creditor has no right to a deficiency and the debtor has no right to any surplus.

Under Which of the Following Systems of Foreclosure Does the Creditor