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Foreclosure & Alternatives Law

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What is acceleration?

Many contracts for debts contain “acceleration” clauses.  This clause gives a creditor the right to “accelerate” the repayment when a payment is missed.  Often, the creditor can require payment in full even when a single payment is missed. The courts may be able to force the debtor to pay a secured debt by seizing the debtor’s property and selling it to pay off the debt.

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