Which statement about equitable redemption is true?

• A. It can be waived by the mortgagor.
• B. It requires payment of only past-due amounts.
• C. It includes the costs and interest.
• D. It is not available if the loan is accelerated.

Answer: (C)

Equitable redemption lets the mortgagor reclaim the property by paying the debt in full up to the moment of the foreclosure sale. That payment isn’t limited to past-due installments; it must cover the entire amount owed, which includes the principal, accrued interest, and the costs of foreclosure (such as court costs and attorney’s fees). Because of this, the statement that equitable redemption “includes the costs and interest” is the true description.

The other statements don’t fit: the mortgagor generally cannot waive the right to redeem; accelerating the loan does not destroy the right to redeem before sale; and redemption is not limited to just past-due amounts.