Ruby is a homeowner with a mortgage loan.She's been missing payments, and recentlyreceived a notice from her lender that her loan isin default, and she will be required to pay theentire remaining balance or face foreclosure.What clause in her mortgage contract gave herlender the right to do this?defeasance clauseprepayment penalty clauseacceleration clausedue on sale clause

The question asks about a scenario where Ruby, a homeowner with a mortgage loan, has been missing…

Answered: Ruby is a homeowner with a mortgage…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Ruby is a homeowner with a mortgage loan. She's been missing payments, and recently received a notice from her lender that her loan is in default, and she will be required today the entire remaining balance or face foreclosure. What clause in her mortgage contract gave her lender the right to do this? prepayment penalty clause acceleration clause due on sale clause defeasance clause
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