Search results
Results from the WOW.Com Content Network
The concept of acceleration most often arises within the context of contract law. An acceleration clause , also known as an acceleration covenant , may be included within a contract, so as to fully mature the performance due from a party upon a breach of the contract, such as by requiring payment in full upon the contract if a borrower ...
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. [2] Commonplace too, is the practice of making ad hoc additional payments. The agreements associated with certain mortgages ...
Key takeaways. A prepayment penalty is a fee designed to discourage borrowers from paying off a loan ahead of time. Refinancing your mortgage or selling your home could trigger this penalty.
A Law Reference Collection, 2011, ISBN 1624680003 and ISBN 978-1-62468-000-7 Trinxet, Salvador. Trinxet Reverse Dictionary of Legal Abbreviations and Acronyms , 2011, ISBN 1624680011 and ISBN 978-1-62468-001-4 .
The law of the country, state, or locality where the matter under litigation took place. Usually used in contract law, to determine which laws govern the contract. / ˈ l ɛ k s ˈ l oʊ s aɪ / lex scripta: written law Law that specifically codifies something, as opposed to common law or customary law. liberum veto: free veto
In the US, escrow payment is a common term referring to the portion of a mortgage payment that is designated to pay for real property taxes and hazard insurance. It is an amount "over and above" the principal and interest portion of a mortgage payment. Since the escrow payment is used to pay taxes and insurance, it is referred to as "T&I ...
This noun corresponds to the verb to compound, q.v., and often means merely "a compounding." E.g., "If a slave killed a freeman, he was to be surrendered for one half of the composition to the relatives of the slain man, and the master was to pay the other half." O.W. Holmes, The Common Law 17 (1881; repr. 1946). A contribution, or adjustment ...
Affirm Holdings is getting its largest-ever capital commitment with a new partnership from private credit firm Sixth Street, which is investing in $4 billion worth of loans over the course of ...