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Author Question: Bankruptcy is an official, legal declaration of an individual or business's inability to meet its ... (Read 56 times)

NguyenJ

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on: Aug 3, 2018
Bankruptcy is an official, legal declaration of an individual or business's inability to meet its financial obligations.
 
  Indicate whether the statement is true or false

Question 2

Why is an acceleration clause considered a harsh provision in a mortgage?
 
  What will be an ideal response?


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connor417

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Reply #1 on: Aug 3, 2018
Answer to Question 1

TRUE

Answer to Question 2

An acceleration clause gives the mortgagee the right to declare the entire loan amount due immediately if the mortgagor is in default.


NguyenJ

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Reply #2 on: Aug 3, 2018
TY


connor417

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Reply #3 on: Aug 3, 2018
You're welcome


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