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.
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