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.
Speak to an Experienced Foreclosure Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure attorney to discuss your specific legal situation.
Additional Foreclosure Articles
- Foreclosure: An Overview
- What Are a Homeowner’s Rights During Foreclosure?
- How do creditors get paid when foreclosing on a house to satisfy unpaid debts?
- How To Avoid Foreclosure
- I’ve fallen on bad times and am having trouble paying my mortgage. What should I do?
- The Mortgage Forgiveness Debt Relief Act of 2007
- Who is eligible for a short sale under the Making Home Affordable Foreclosure Alternatives Program?
- Can I Use a Loan Modification Program in Order to Save my Home from Foreclosure?
- Renters Now Protected in Foreclosures
- What can a creditor do if a debtor won’t pay?
- What is the Hope for Homeowner’s Act?
- What is the Truth In Lending Act?
- What Is a money judgment?
- Foreclosure & Strategic Default (Walking Away)
- I’m in foreclosure… can refinancing under FHASecure still help me?
- Foreclosure Protection for Victims of Hurricane Sandy
- What is the FHASecure refinancing program?
- Are homeowners with interest only mortgages eligible for an FHASecure refinance?
- What are the requirements for an FHA Streamlined Mortgage Refinance?
- What kinds of streamline refinances do lenders offer?
- What is Judicial Foreclosure?
- What is a Power of Sale Foreclosure?
- What is Strict Foreclosure?
- What are Credit Counseling Agencies?
- Different Types of Foreclosure
- How Can a Creditor Repossess Property?
- The Foreclosure Timeline
- Defenses to Repossession
- Understanding the Foreclosure Process
- A Plain Language Explanation of Your Options for Avoiding Foreclosure
- Alternatives to Foreclosure
- What to do About Your Mortgage When You’re Facing Money Problems
- Bankruptcy or Foreclosure?
- Ten Tips for Avoiding Foreclosure
- Foreclosure Laws in Hawaii
State Foreclosure Articles
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- Connecticut
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- Georgia
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Related Topics In This Section
- 1031 Exchange
- Buying a Home
- Construction Defect
- Construction Law
- Eminent Domain
- Eviction
- Fair Housing Laws
- Foreclosure Scam
- Landlord Rights and Duties
- Landlord Tenant Law
- Loan Modification
- Mortgage
- Mortgage Refinancing
- Real Estate
- Real Estate Condemnation
- Rent and Security Deposits
- Rental Agreement
- Tenant Rights
