A bank forecloses on a parcel of land and purchases it at foreclosure sale, then sells the land to a developer for less than the bank paid. To what extent does the bank have an interest in the land after foreclosure?

• A. None, because the bank's mortgage on the land was extinguished by the foreclosure sale.
• B. The bank's mortgage remains to the extent that the bank suffered a loss on the resale of land to the developer.
• C. The bank's mortgage remains in full, because the bank, as mortgagee, purchased the property at the foreclosure sale.
• D. The bank's mortgage remains to the extent of any deficiency judgment the bank may seek.

Answer: (A)