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The Due-on-Sale Clause - Fact and Fiction 1 Citation What is the due-on-sale clause and how does it affect you, the real estate agent in the current market? The due-on-sale clause (or acceleration clause ) is the clause contained in most mortgages that requires the borrower to pay the mortgage loan in full upon sale of the property and is the reason that most real estate related loans are not ?assumable.? It gives the lender the right to call the loan due and payable in full when the property is sold. Financial institutions began, technorati.com
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1 Citation Foreclosure - a legal process used by lenders to seize properties from homeowners, most often due to missed payments. It is a type of Operation of Law, where courts may rule against a record owner?s wishes. How can this happen? Often there is an acceleration clause in a contract allowing a lender to call an entire note due if a specific event occurs. These events may include missing payments to the lender or insurance company, if there are unpaid taxes, or if the property is sold. In, technorati.com
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1 Citation The banks could have renegotiated, and saved at least their principal investment, but instead they chose and still choose foreclosure, which devastates not only the homeowner, but the entire neighborhood by dropping property values. This has driven huge loss in personal wealth behind this recession is largely due to the huge loss in property values all Americans are facing. I don?t think you will be condemned (by God) if you choose foreclosure. There is speculation that when you choose foreclos, technorati.com
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Real Estate Terms starting with (A) 1 Citation The Following are real estate terms and topics: Starting With the Letter ( A) Acceleration clause A provision in a mortgage that gives the lender the right to demand payment of the entire principal balance, under certain circumstances, such as bankruptcy, nonpayment of taxes on mortgaged property, breaking of loan covenants, or failure to make payments. Acceptance An offeree?s consent to enter into a contract and be bound by the terms of the offer. Often, the party making the offer prepare, technorati.com
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1 Citation ABACUS: 1. Instrument of ancient origin used to perform arithmetic calculations by sliding counters along rods or in grooves. 2. Semiannual accounting research journal (founded in 1965) published by the Sydney University Press, edited by the University of Sydney, Department of Accounting. The subject matter covers all areas of accounting including international accounting.ABANDONMENT - voluntary surrender of property, owned or leased, without naming a successor as owner or tenant. The property w, technorati.com
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