Sentences with phrase «acceleration clause when»
Acceleration Clause When items have been loaned or there is a contract in place, if someone is unable to keep up with the payments, this can speed up when they may have to give up
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The «due on sale» (aka «acceleration clause») is a provision in a mortgage document that gives the lender the right to demand payment of the remaining balance of the loan when the property is sold.
From a property investment point of view the mortgage acceleration clause means that when the investor is exiting a property investment by selling the property there will be an immediate demand from the lender for repayment of the remaining balance of the loan.
The mortgage acceleration clause is a provision in the mortgage loan contract that provides the lender with the legal right to demand repayment of the remaining balance of the loan under certain circumstances, usually when a contractual obligation is violated.