Finance
An Oklahoma property owner is behind on mortgage payments. Before foreclosure, the lender must typically provide the borrower with:
ANo notice whatsoever
BNotice of default, opportunity to cure (reinstatement period), and compliance with HUD counseling requirements for FHA loans, among other procedural requirements✓ Correct
COnly a phone call
D30-day verbal notice
Explanation
Oklahoma mortgage foreclosure has procedural requirements including notice of default, time to cure, and for FHA loans, mandatory counseling outreach. Oklahoma also has judicial foreclosure for mortgages (as opposed to non-judicial for deeds of trust), requiring court proceedings.
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