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An accelerated clause is a term in a loan agreement that requires the borrower to pay off the loan immediately under certain conditions. An accelerated clause is typically invoked when the borrower materially breaches the loan agreement.

An acceleration clause allows the lender to require payment before the standard terms of the loan expire. Acceleration clauses are typically contingent on on-time payments. Acceleration clauses are most common in mortgage loans and help to mitigate the risk of default for the lender.

Right to Reinstate the Loan After Acceleration In most cases, under state law or the terms of the loan contract, the borrower can reinstate the loan after acceleration to stop the foreclosure.

What Are Foreclosure Acceleration Clauses? Foreclosure proceedings are possible because most mortgage loan documentation contains an acceleration clause. This clause gives the lender the right to collect the entire amount due on the loan if the borrower fails to make the monthly mortgage payments.

The acceleration clause allows the lender to demand the entire balance of the mortgage loan from the borrower. Unless the borrower can pay their entire mortgage loan balance, the mortgage servicer can foreclose on the property. But, again, this can't happen until notice is given.

The Notice of Acceleration is just one name for a document from your lender which advises you that ALL of your mortgage payments, including past missed payments, will be due within the next 30 to 90 days.

Texas law requires that the lender/servicer must send the borrower a notice of default and intent to accelerate by certified mail that provides at least 20 days to cure the default before notice of sale can be given.

Right to Reinstate the Loan After Acceleration In most cases, under state law or the terms of the loan contract, the borrower can reinstate the loan after acceleration to stop the foreclosure.

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Individuals who wish to obtain a real estate license in the state of Texas must: 1. Apply for a license.320 Westway Place, Suite 511, Arlington, TX 76018, or may be mailed to this address. 320 Westway Place, Suite 511, Arlington, TX 76018, or may be mailed to this address.

Arlington Texas Notice of Rescission of Acceleration

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