Which one of the following statements is correct

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Which one of the following statements is correct?

A. Foreclosure action cannot be taken till a notice is served on the policyholder

B. When a foreclosure action is taken, nothing is payable to the policyholder

C. Both the statements above are correct

D. Both the statements above are wrong

Answer: Option A

Solution (By Examveda Team)

Foreclosure action cannot be taken till a notice is served on the policyholder. Foreclosure” is just the series of steps a lender has to take in order to force the sale of such property and use the sale proceeds to recover its unpaid debt.

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Which one of the following statements is correct?

Solution (By Examveda Team)

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