Uncover the essentials of the alienation clause (due on sale) in real estate. See how it can impact your home sale and mortgage transfers.
An acceleration clause is a statement or series of statements in a mortgage contract that outlines a number of reasons that will...
What is an acceleration clause? An acceleration clause in real estate is a provision in the loan documents that allows the lender to demand full and immediate repayment of the outstanding mortgage balance (in addition to any accrued interest since the most recent payment) when a borrower breaches...
How to determine whether a mortgage recast is right for you One of the best ways to determine whether you should move forward with a mortgage recast is to look at what you hope to get out of your loan. Do you want to lower your monthly payments, or are you looking to access your equ...
One exception is an acceleration clause on a home mortgage that triggers if the homeowner sells the house. Options The bank does not have to use the acceleration clause. In some cases, the threat of the process may be a way of opening negotiations with the borrower. A bank may be ...
Due-on-Demand Clause vs. Due-on-Sale Clause A due-on-demand is not the same thing as a due-on-sale clause. If a due-on-demand is stipulated or checked on a mortgage contract, it means the lender can demand the full payment of the loan at any time, for whatever reason. Therefore...
We explore what decarbonization is and why it's become both a critical tool in the fight against climate change and a means of global economic acceleration.
In the context of FHA loans, mortgage insurance functions as a safety net for the lender in case you default. It's a bit different from theprivate mortgage insurance (PMI)you'd find with conventional loans. Here's how: Upfront vs. Monthly Premiums: FHA loans require both an upfront mort...
A mortgage accelerator loan is very different from a traditional 30-yearfixed-rate mortgage. In a mortgage accelerator program, homebuyers receive a variable-ratehome equity line of credit(HELOC) instead of a fixed-rate loan for their first mortgage. Many lenders offer the accelerator for new hom...
The term amortization is used in another unrelated context. Anamortization scheduleis often used to calculate a series of loan payments consisting of both principal and interest in each payment like a mortgage. The concept is somewhat similar. Amortization is the reduction in the carrying value of...