Jack P. Friedman, Ph.D., CPA, MAI, CRE, ASA, Jack C. Harris, Ph.D., and J. Bruce Lindeman, Ph.D. - All books by this author
Barron’s Business Dictionaries - All books in this series
Need to know real estate jargon? This quick-reference guide can help. Home buyers and sellers, as well as real estate professionals, investors, and attorneys can rely on this quick-reference source. More than 3,000 terms and definitions cover topics that include appraisal, architectural styles, brokerage, construction, development, environmental finance, mortgage types, zoning regulations, and much more. Includes graphs, charts, and line art.
ACCELERATION CLAUSE a loan provision giving the lender the right to declare the entire amount immediately due and payable upon the violation of a specific loan provision, such as failure to make payments on time. Example: Collins sells her house to Baker, who assumes the existing 8% interest rate mortgage. They do not notify the lender of the sale. Clause 17 in the mortgage states that the full principal accelerates unless the lender approves of the sale. Collins must now pay the balance of the principal.
Paperback / 600 Pages / 4 1/8 x 7 / 2017