Finance
Vermont's judicial foreclosure process means that:
AThe lender can sell the property without court involvement
BThe lender must file a lawsuit in court to foreclose on a defaulted mortgage✓ Correct
CForeclosures are handled by VREC
DTenants have no rights in a foreclosure
Explanation
Vermont uses judicial foreclosure, meaning the lender must file a lawsuit and obtain a court judgment before the property can be sold. This process provides the borrower with notice and an opportunity to defend.
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