Dec 29 , 2015

Tampa School of Real Estate

Acceleration Clause

Definition:  A condition in a mortgage that the entire unpaid balance becomes due and payable if the borrower defaults on the promissory note.

Pronunciation:    ik-ˌse-lə-ˈrā-shən

Used in a Sentence:    The lender activated the acceleration clause in the mortgage when the borrower stopped making payments.