An acceleration clause, An acceleration clause: The two

An acceleration clause

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Reference no: EM131320451

1. The two legal documents which constitute a mortgage loan include:

The Mortgage Deed and the Deed of Trust.

The Mortgage Deed and the Certificate of Title.

The Promissory Note and the Certificate of Title.

The Promissory Note and the Mortgage Deed.

2. An acceleration clause:

Allows the borrower to pay the loan off early.

Allows the borrower to reduce the principal balance at a faster rate.

Allows the borrower to make subsequent draw-downs of the agreed upon principal.

Allows the lender to make the full outstanding balance due immediately.

Reference no: EM131320451

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