5. Boris Borrows owns a million-dollar home on Catbird Island. The home is subject to a $800,000 mortgage, payable in monthly payments of principal and interest, with an acceleration clause from Luxury Home Lenders. Boris falls three months behind on his mortgage payments to Luxury Home Lenders, which brings a foreclosure action. The day before the date set for the foreclosure sale, Boris comes up with the money to pay off the three months in late payments and tells Luxury Home Lenders he wants to redeem the mortgage. Luxury Home Lenders refuses to accept Boris's late payments and tells him it will not terminate the foreclosure action. What is the most accurate statement of Boris's legal rights.

Question 5 options:

a)	Boris does not have the right to redeem the mortgage by paying off the three late monthly payments having gone into default under the acceleration clause.

b)	Luxury Home Lenders has the right to redeem the mortgage but must make reasonable efforts in securing a fair price at the foreclosure sale under the acceleration clause.

c)	Luxury Home Lenders does not have the right to foreclose on the mortgage under the acceleration clause

d)	Boris has the right to exercise his equity of redemption and pay off the the three late monthly payments on the mortgage to stop the foreclosure sale from going forward.