Question: Question 2 6 ( 1 point ) If a mortgagor fails to make a payment on time, according to the terms of almost all mortgage
Question point
If a mortgagor fails to make a payment on time, according to the terms of almost all mortgage loans, the entire principal sum and accrued interest is immediately due and the mortgagee can then pursue all remedies available. What is the name of the term that provides this rule?
Question options:
amortization clause
foreclosure clause
acceleration clause
power of sale clause
default clause
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
