Which mortgage clause allows a lender to regain their investment if the borrower does not pay his payment?

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19-08-2022
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Which mortgage clause allows a lender to regain their investment if the borrower does not pay his payment?

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rafikiedu08 rafikiedu08 · Answer 1 · 2022-09-02T09:17:50+02:00

If the borrower doesn't make his payment, the acceleration clause mortgage clause enables the lender to recover their investment.

A defeasance provision is a language in a mortgage contract that specifies that when the borrower (mortgagor) meets the lender's payment requirements, ownership of the property will be transferred to them (mortgagee).

A loan agreement's "accelerated provision" specifies circumstances under which the borrower must repay the loan in full right away. When the borrower substantially violates the terms of the loan arrangement, an accelerated clause is often triggered.

A due-on-sale clause in a mortgage contract states that the borrower must pay the lender in full upon selling or otherwise transferring all or a portion of the property interest used to finance the mortgage. The new owner of the property is not permitted to assume any mortgages that have a due-on-sale provision.

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