Archive for August, 2009

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Life Insurance

Category: Insurance, Posted on August 24th, 2009 by xblackmindx | No Comments

Whole life insurance, also known as “cash-value” insurance is a basic and consistent type of permanent life insurance which remains in effect your entire life at a level premium. This life insurance is a good choice got you if you do not expect your life insurance needs to diminish over time. A portion of your [...]

Prepayment Clause

Category: Admin Note, Posted on August 20th, 2009 by xblackmindx | No Comments

To prepay means to pay off the indebtedness before the end of the loan term. Under traditional common law, the mortgagor has no right to prepay a mortgage unless the right is explicitly  rovided by a prepayment clause. In some states statutory law has reversed this. Now, any note that is silent as to the [...]

Acceleration & Renegotiable Rate Clause

Category: Admin Note, Posted on August 16th, 2009 by xblackmindx | No Comments

In every mortgage loan there are several clauses that state the rights of the mortgagor and the mortgagee during the tenn of the mortgage loan agreement. The various clauses (or provisions) that may be found in the debt agreement are as follows:
Acceleration clause
Lenders usually insist that the instrument contain an acceleration clause that makes the [...]

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