Archive for August, 2009
« Previous EntriesNext Entries »Acceleration & Renegotiable Rate Clause
Category: Admin Note, Posted on August 16th, 2009 by xblackmindx | No CommentsIn 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 [...]
Package Mortgage & Home Equity Credit Line Loan
Category: Admin Note, Posted on August 13th, 2009 by xblackmindx | No CommentsPackage mortgage
A package mortgage allows home buyers to pledge household items of personal property, in addition to the real estate, as security for a loan. For instance, lending institutions may allow items such as ranges, refrigerators, dishwashers or air conditioners to serve as security, thereby allowing the home buyer to finance major appliances over the [...]