2007-06-07 19:04:04 · 2 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
No. Not a chance.
I don't know why they're accelerating, but you've either transferred the deed, committed fraud, severely damaged the collateral or quit paying.
You can attempt to sell it during this period, but your question would make it impossible for any bank to foreclose on a home. All anyone would have to do is list their home to stop foreclosure? Not likely. Sorry.
2007-06-08 05:40:20 · answer #1 · answered by Yanswersmonitorsarenazis 5 · 1⤊ 0⤋
A mortgage acceleration clause is a term in the mortgage agreement that allows the lender to demand the full balance payment under certain circumstances, such as sale of the property, default on payments or refinancing.
You will need to check the language in your original mortgage agreement to determine your situation. My guess is that you do not have a defense here.
2007-06-08 02:33:02 · answer #2 · answered by acermill 7 · 0⤊ 0⤋