What term describes the legal process by which property is sold to pay off a mortgage debt?

The term that accurately describes the legal process by which property is sold to pay off a mortgage debt is "foreclosure." This process occurs when a borrower fails to make mortgage payments, prompting the lender to take legal action to recover the remaining balance of the loan. During foreclosure, the lender typically seeks to sell the property through public auction or other means, allowing them to obtain funds from the sale to satisfy the outstanding debt.

In contrast, redemption refers to the period during which a borrower can recover their property by paying off the debt after the foreclosure process has started. A short sale is a different arrangement where the lender agrees to accept less than the total amount owed on the mortgage, allowing the homeowner to sell the property to avoid foreclosure. A deed in lieu of foreclosure is when the borrower voluntarily transfers ownership of the property to the lender to settle the mortgage debt, bypassing the lengthy foreclosure proceedings. Each of these options relates to mortgage debt resolution, but they do not describe the same process as foreclosure itself, which specifically involves selling the property to satisfy the debt.