Acceleration Clause

The clause in a mortgage, or deed of trust, that allows the lender to "accelerate" the payment schedule—demanding immediate payment of the loan principal. Standard residential mortgage loans do not allow unrestricted acceleration clauses; this clause is normally used by the lender to demand the entire balance due immediately if the borrower fails to meet loan obligations (i.e., default). For more information, see the

"Mortgage Deeds and Promissory Notes" article in the "Real Estate In-Depth" section.

Real Estate 101

Real Estate 101

This book makes it easy to not only buy a home, but figure out everything that you need to do, even get a loan. In simple and easy to understand language, it talks about where you should buy a home, what to look for in a home, how to find a home, how to get an agent, how to get a mortgage and more. This is a step by step process that you, a new home buyer, can use to purchase a home.

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