An alienation clause, commonly referred to as a due-on-sale clause, is a clause in your mortgage contract that requires you to pay the remaining mortgage balance at the sale or transfer of the home.
When you take out a mortgage, you plan on paying it back over 15 or 30 years. But in some cases, the lender can demand full repayment sooner. Mortgages allow for this possibility with acceleration ...
Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. An acceleration clause is a contract provision that allows a lender to require a borrower to ...
Acceleration clauses, a common feature in mortgage contracts, require that you pay off your entire loan balance immediately in a single lump sum. If you're unable to pay off the mortgage, the lender ...
An alienation clause is common in mortgages, giving a mortgage lender the right to request full and immediate loan repayment when the home is sold or transferred. The Garn-St. Germain Act of 1982 ...
An acceleration clause allows a mortgage lender to demand full repayment of the loan if certain conditions are not met. This clause protects against missed payments, violations of loan terms, or ...
When engaging in a real estate transaction, it's important to understand the details of your mortgage agreement - especially clauses that dictate how ownership can be transferred. One such provision ...