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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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