In: Accounting
the foreclosure sale is usually conducted by the
a. county sheriff orcourt appointed receiver
b. judge who issued the decree of judgement in which foreclosure
was permitted
c. original seller or lender
d. buyer or current occupant
Option A is the answer
When the borrower fails to make payments, the lender attempts to recover the loan amount by making the sale of asset which was used as collateral. This process is called foreclosure. It is generally conducted by Local sheriff. |