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3 Cards in this Set
- Front
- Back
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Acceleration clause
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the clause in a mortgage for deed of trust that can be enforced to make the entire debt due immediately if the borrower defaults on installment payment or another covenant.
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Adjustable rate mortgage
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A loan characterized by fluctuating interest rate, usually one tied to a published index. Caps for adjustments on periodic interest, Lifetime interest, and payment amounts are normal.
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Alienation clause
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This clause prevents the borrower from letting someone else assume the debt without the lender's approval.
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