Josie Cohen borrowed money from Second Bank and Trust to buy her home. She gave Second Bank a mortgage on the home. Josie loses her job and is unable to make the payments on the mortgage. Second Bank gives Josie notice that the delinquent payments must be paid by July 1 or the bank will foreclose on the mortgage. Josie does not make the payments and Second Bank starts foreclosure proceedings. Josie obtains a loan from her aunt in an amount sufficient to pay off entirely the debt owed to Second Bank. Josie tenders the full amount to Second Bank, but Second Bank refuses to accept the money. Second Bank says that Josie was too late to stop the foreclosure. Can Josie require Second Bank to accept payment of its loan in full?

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The Answer of Josie Cohen borrowed money from Second Bank and Trust to buy her home. She gave Second Bank a mortgage on the home. Josie loses her job and is unable to make the payments on the mortgage. Second Bank gives Josie notice that the delinquent payments must be paid by July 1 or the bank will foreclose on the mortgage. Josie does not make the payments and Second Bank starts foreclosure proceedings. Josie obtains a loan from her aunt in an amount sufficient to pay off entirely the debt owed to Second Bank. Josie tenders the full amount to Second Bank, but Second Bank refuses to accept the money. Second Bank says that Josie was too late to stop the foreclosure. Can Josie require Second Bank to accept payment of its loan in full?

Josie Cohen Borrowed Money from Second Bank and Trust to Buy