Question

What action could temporarily stop a foreclosure?

a) The borrower abandons the property.
b) The borrower declares bankruptcy.
c) The borrower remains on the property.
d) The borrower uses his right of redemption.

Answer 1

Declaring bankruptcy can temporarily stop a foreclosure by activating an automatic stay on collections, giving the borrower time to address debts during the bankruptcy process.

Step-by-step explanation:

The action that could temporarily stop a foreclosure is b) The borrower declares bankruptcy. When a borrower files for bankruptcy, an automatic stay is activated that halts all collection activities, including foreclosures. It is important to note that this is a temporary measure, and the borrower will need to work out a long term solution during the bankruptcy process to deal with their debts, which may include the mortgage.