About: Mortgage acceleration

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Mortgage acceleration is the practice of paying off a mortgage loan faster than required by terms of the mortgage agreement. As interest on mortgages is compounded, early payments diminish the period needed to pay off the mortgage, and avoid a quotient of compounded interest. In addition, acceleration may refer to a clause in a mortgage note (See Acceleration (law)) that allows the mortgage holder to declare the entire debt of a defaulted mortgagor due and payable.

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  • Mortgage acceleration is the practice of paying off a mortgage loan faster than required by terms of the mortgage agreement. As interest on mortgages is compounded, early payments diminish the period needed to pay off the mortgage, and avoid a quotient of compounded interest. In addition, acceleration may refer to a clause in a mortgage note (See Acceleration (law)) that allows the mortgage holder to declare the entire debt of a defaulted mortgagor due and payable. A commonplace method of mortgage acceleration is a so-called bi-weekly payment plan, in which half of the normal calendar monthly payment is made every two weeks, so that 13/12 of the yearly amount due is paid per annum. Commonplace too, is the practice of making ad hoc additional payments. The agreements associated with certain mortgages preclude or penalize early payments. (en)
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  • Mortgage acceleration is the practice of paying off a mortgage loan faster than required by terms of the mortgage agreement. As interest on mortgages is compounded, early payments diminish the period needed to pay off the mortgage, and avoid a quotient of compounded interest. In addition, acceleration may refer to a clause in a mortgage note (See Acceleration (law)) that allows the mortgage holder to declare the entire debt of a defaulted mortgagor due and payable. (en)
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  • Mortgage acceleration (en)
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