Final answer:
Foreclosure with no court action is referred to as an executory process, which allows a mortgage lender to repossess property without court intervention based on the mortgage agreement and state laws.
Correct option is B.
Step-by-step explanation:
Foreclosure where there is no court action is an example of an executory process.
This process is distinct from a summary judgment, which is a judgment entered by a court without a full trial when evidence clearly indicates that one party could not possibly win at trial.
In contrast, an executory process in the context of foreclosure is typically a non-judicial proceeding where the mortgage lender can take possession of the property without court intervention, assuming the mortgage agreement permits this method and state law allows for it.
It's a more expedient and less expensive process than a judicial foreclosure, which requires formal court proceedings.
Correct option is B.