Standard provisions that lenders typically use to help protect their interests include requiring an acceleration clause (which calls immediately due the outstanding balance on the loan), which is triggered upon default, and by requiring “default interest” provisions that, upon default, enable the l...
Despite the urging of the Real Estate Bar Association, which filed a friend-of-the-court brief, the SJC saw no need to alter the harsh common law simply because this particular landlord’s lease failed to provide a proper rent acceleration clause. Justice Gants didn’t mince his words in c...
Acceleration clause An acceleration clause is typically used to allow lenders to call the entire loan balance due upon a specific default. For example; the Due on Sale Clause, which dictates that the loan be paid off in full on a sale or transfer of ownership. This can also be triggered ...
Mortgage Acceleration Clause: A clause which allows a lender to demand that the entire balance of the loan be repaid in a lump sum under certain circumstances. The acceleration clause is usually triggered if the home is sold, title to the property is changed, the loan is refinanced or the ...
“due on sale” or acceleration clause, wherethe lender may foreclose, calling the entire loan due. Once the deed is recorded, the transfer is public record, and the Lender may catch it. But there is an exception in Federal Law which blocks lender action for a transfer to the spouse or...
A clause in a finance instrument that allows a lender to demand immediate payment in the event of a default by the borrower is called an acceleration clause Before a trustee's sale can take place, a trustee must publish a Notice of Sale ...
"Equity Thus, Winton established a ruling that arguably the Parker court would never haveaccepted. This shift may now be only of historical interest, but it is a good illustration of thedeveloping concern the courts have shown for the debtor's protection. 44.Baggett, W. Miketex.tech l.rev...
The Ultimate Real Estate Dictionary. Search Real Estate Terms and Definitions. Included Mortgage Broker, Insurance, Appraisal and Notary Definitions too!
The Reason Why I Own Real Estate For most of my post college life, I've had a larger exposure to real estate over stocks. I needed a place to live so I figured it was better to pay down a mortgage than to pay someone rent as soon as I mustered up the down payment. Further, I...
Acceleration Clauses Notes C. Junior Responses to Senior Defaults Windt v. Covert D. Alternatives to Foreclosure 1. Workouts Auerbach v. Great Western Bank 2. Deeds in Lieu of Foreclosure Hamud v. Hawthorne Guam Hakubotan, Inc., v. Furusawa Investment Corp. De Martin v. Phelan E. Attorney...