What Is an Acceleration Clause? Find Out Now Before You Mess Up Your Mortgage MABA Massachusetts RealEstate FirstTimeHomeBuyers

If you have a mortgage, odds are your contract includes an acceleration clause. It basically means that if you break any terms of your loan, your lender can demand “accelerated” payment. In other words, rather than paying that money back over 15 or 30 years as planned, the whole amount is due immediately.

Sound stressful? Here’s what home buyers and owners should know about a mortgage acceleration clause, including what triggers it and how to keep this scary scenario from happening.

What to know about an acceleration clause

An acceleration clause is a part of the standard……………..

To read more click here

firsttimehomebuyers | homebuyer real estate buyers broker

FIRST TIME HOMEBUYERS

Buyer’s Agents Explained

HOMEBUYERS BEWARE! Book Review

This book is an excellent first step in a complicated process.

BEWARE the cards are stacked against you! Get Tom Wemett's book, learn why are different from other

Buying a home is like buying a car, on steroids. It’s the biggest investment you are likely to make so the stakes are incredibly high. I knew that having an agent represent me was a good idea.

What I hadn’t grasped was how important it is to find one who is not connected with the selling side in any way—through an agency that also represents sellers, as most do, at least in Mass. In researching buyer agents, I found Tom through the Mass. Assoc. of Buyer Agents (MABA).

Read Full Review Here

Marny