Finance
The 'right of reinstatement' allows a defaulted borrower in Alabama to:
ATerminate their mortgage without penalty
BBring a delinquent loan current by paying all past-due amounts before foreclosure is completed✓ Correct
CReinstate their credit score automatically
DConvert an adjustable-rate loan to a fixed-rate loan
Explanation
The right of reinstatement (part of equity of redemption) allows a defaulted borrower to cure their default by paying all overdue amounts plus fees, stopping the foreclosure process.
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