Multiple Choice
Wesley buys a house for $1,000,000.He puts $400,000 down,and borrows $600,000 from a bank against the property as collateral.When Wesley defaults,the bank decides to foreclose the property.However,the property depreciated significantly and it is worth is only $500,000 now.The bank brings a legal action against Wesley to claim the $100,000 shortage.Which of the following court doctrines can help the bank recover the shortage from Wesley?
A) right of redemption
B) lien release
C) deficiency judgment
D) summary judgment
Correct Answer:

Verified
Correct Answer:
Verified
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