A Bank Took Immediate Possession of Real Property for Non-Payment

Multiple Choice

A bank took immediate possession of real property for non-payment of a mortgage installment on its due date.It is taking steps to have the property sold.The bank is aware that,due to poor market conditions,the amount of the mortgage is higher than the value of the property.Given these circumstances,which of the following provides a valid description of the most likely legal matters that will come before the courts?

A) distress and equity redemption
B) default and deficiency
C) foreclosure and deficiency
D) foreclosure and court-supervised sale