Acceleration is the action taken by a lender demanding early repayment of the entire loan balance when a borrower defaults on the terms of the loan agreement.
A cross-default clause in a loan agreement that stipulates that a default on one loan can trigger defaults on other loans held by the same borrower.
An overview of the legal process where a lender seeks to recover the balance of a loan from a borrower who has stopped making payments by forcing the sale of the property used as collateral for the loan.
A Power of Sale is a clause included in mortgages or deeds of trust that grants the lender (or trustee) the authority to sell the property in the event of certain defaults, typically without court intervention.
