After default on a mortgage, before a foreclosure sale, a mortgagor arranges to pay the amount owed to redeem the property. Is the bank required to accept such an offer under the doctrine of equity of redemption?

• A. No, because foreclosure has already begun.
• B. No, because equity of redemption is not applicable here.
• C. Yes, because equity of redemption allows redemption by paying the amount owed.
• D. Yes, but the buyer must reimburse the seller for insurance.

Answer: (C)