Escrow & Title
The right of redemption allows a defaulting borrower to:
AVoid the original purchase contract
BReclaim the property by paying the full debt owed, plus costs, before or after foreclosure✓ Correct
CNegotiate a principal reduction with the lender
DTransfer the property to a family member to avoid foreclosure
Explanation
The right of redemption allows a defaulting borrower to reclaim their property by paying all amounts owed. Equitable redemption exists before the foreclosure sale; statutory redemption (if available) allows redemption after the sale for a statutory period.
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