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An acceleration clause is a section of a mortgage contract that can have big consequences: Namely, it can require you to pay off your entire mortgage at once. Even if you miss only one payment.
The mortgagee clause is a provision that protects the lender from financial loss if the mortgaged property is substantially damaged or destroyed. A mortgagee clause protects the lender even if the ...
A due-on-sale clause is a clause in a loan or promissory note that stipulates that the full balance of the loan may be called due (repaid in full) upon sale or transfer of ownership of the property used to secure the note.
A loss payee clause (or loss payable clause) is a clause in a contract of insurance that provides, in the event of payment being made under the policy in relation to the insured risk, that payment will be made to a third party rather than to the insured beneficiary of the policy . Such clauses are common where the insured property is subject to ...
JPMorgan Chase Bank, N.A., doing business as Chase, is an American national bank headquartered in New York City that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and financial services holding company, JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000. [2] Chase Manhattan Bank was formed by ...
Buying a car is a major financial decision. If you purchase a car using an auto loan, you’re paying for that decision every month for the next two to eight years. That doesn’t mean you have to ...
Rocket Mortgage, LLC, formerly Quicken Loans, LLC, is an American mortgage lender, headquartered in Detroit, Michigan. Rocket Mortgage’s parent company is Rocket Companies. [6] In January 2018, Rocket Mortgage became the largest overall retail lender in the U.S., and it was also the largest online retail mortgage lender. [7] Rocket Mortgage relies on wholesale funding to make its loans and ...
Chase serves more than 50 million consumers and 4 million small businesses through more than 5,500 bank branches, 17,500 ATMs, credit cards, mortgage offices, and online and mobile banking as well ...