Alabama Real Estate Practice Exam

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Master your Alabama real estate exam with our comprehensive practice test. Tailored feedback, expert tips, and up-to-date questions to ensure your success!

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What initiates a judicial foreclosure?

A government mandate
A lender's or creditor's lawsuit
A borrower's request for debt relief
A public petition

The correct answer is: A lender's or creditor's lawsuit

A. A government mandate does not initiate a judicial foreclosure. It is usually initiated by the lender or creditor who is seeking to recover their money from the borrower who has failed to make payments on their loan. C. A borrower's request for debt relief does not initiate a judicial foreclosure. It is the borrower admitting that they are unable to make payments and are seeking options to reduce or eliminate their debt. D. A public petition also does not initiate a judicial foreclosure. It is typically used for collective action or to express support for a cause. In contrast, a lender or creditor's lawsuit is the legal action taken to start a judicial foreclosure. This is when the lender or creditor files a lawsuit against the borrower for failing to make payments on their loan. This eventually leads to a court-ordered sale of the property to recover the money owed.