Flood Warning expires at 8:00 AM on 4/18, issued at 10:44 AM Bryceville, FL | Callahan, FL | Fernandina Beach, FL | Glen Saint Mary, FL

Acceleration clause

Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 3/27/2003 4:09 pm
An acceleration clause in a mortgage allows the lender to demand immediate payment of the entire balance remaining on the note if the borrower misses payments, or if the borrower sells the mortgaged property. Without this clause, the lender can only foreclose on the payments that have come due and not been paid. Thus, knowing that the lender has the option of calling the entire loan balance due upon default, the borrower is more likely to make his or her payments on time. For more information on acceleration clauses, contact a financial or real estate professional.

©2006 Crossroads Mobile. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Share
Tonight On FOX30
Inergize Digital This site is hosted and managed by Inergize Digital.