Accelerate

An option given to lenders through an "acceleration" clause in the mortgage or deed of trust requiring the borrower to pay the entire balance of the loan all at once if their loan is in default.

This clause allows your lender to demand that the entire balance of a mortgage or secured loan be repaid in a lump sum under certain circumstances. The acceleration clause can be triggered by a number of circumstances depending where you live and the conditions of your mortgage. For example, in addition to being triggered by a loan falling into default, an acceleration clause can be triggered if the home is sold, title to the property is changed, the loan is refinanced or the borrower is late on a monthly payment.

FAQ:

How can I tell from reading my mortgage what will trigger an acceleration clause?
How do I know if my mortgage is in default.
Foreclosure law in your state.

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