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  3. in a strict foreclosure, a lender takes title to t

In a strict foreclosure, a lender takes title to the liened property directly. a lender...

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Accounting

In a strict foreclosure,

a lender takes title to the liened property directly.

a lender receives the proceeds from the forced sale of the liened property.

the defaulting owner does not have the opportunity to prevent the foreclosure by paying the amounts owed.

a foreclosure suit is optional.

Foreclosure is

a court-ordered acceleration of loan payments.

the final step in a bankruptcy filing.

a proceeding to enforce a lien by forcing sale or transfer of a secured property.

a proceeding to take equitable title to a property that was liened as security for a mortgage loan.

A strict foreclosure begins with

a writ of execution.

an appeal to a court.

surrender of the deed.

proper notice to the delinquent borrower.

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