s property after processing her final payment. which clause requires the lender to take this action?

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19-12-2022
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s property after processing her final payment. which clause requires the lender to take this action?

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arenasaleem890 arenasaleem890 · Answer 1 · 2022-12-22T01:25:40-05:00

A defeasance provision in a mortgage stipulates that if the loan is fully repaid, the borrower will be given the property's title.

When a borrower sells or transfers their house, the alienation clause in their mortgage contract provides the mortgage lender the right to demand prompt and complete repayment of the debt, including principle and interest. A release clause is a term used to describe a condition in a mortgage contract that releases a creditor from some of a collateral claim they may have on real estate. Usually, the clause does not permit this provision until a portion of the mortgage has been repaid.a provision in a contract that permits a lender to demand that, in the event of default (non-payment), a borrower return all or a portion of an outstanding mortgage.

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