Finance
In Rhode Island, which type of mortgage foreclosure is most common, where the lender must obtain a court order to foreclose?
ANon-judicial foreclosure only
BJudicial foreclosure✓ Correct
CStrict foreclosure
DDeed in lieu
Explanation
Rhode Island primarily uses judicial foreclosure, which requires the lender to file a lawsuit and obtain a court judgment before foreclosing. Rhode Island also permits power-of-sale foreclosure when the mortgage deed contains such a clause.
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