Mortgage Acceleration Clause - Definition - Law Dictionary Home Dictionary Definition mortgage-acceleration-clause

mortgage acceleration clause

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a clause allowing a lender, under certain circumstances, demand the entire balance of a loan is repaid in a lump sum. The acceleration clause is usually triggered if the home is sold, title to the property is changed, the loan is refinanced or the borrower defaults on a scheduled payment.

Source: U.S. Department of Housing and Urban Development