What is a mortgage acceleration clause?

A mortgage acceleration clause is a term found in mortgage contracts that states if the borrower fails to make mortgage payments, the lender can require the remaining balance to be due immediately. This clause is put in place by the lender in an attempt to protect their investment and ensure they will get paid back if the borrower is unable to make their mortgage payments. In Kansas, the mortgage acceleration clause must abide by the Uniform Consumer Credit Code, which states that any acceleration clause must be written in the contract in clear and conspicuous language to ensure the borrower is aware of the clause. It also must state the amount of the acceleration and any fees associated with it. Additionally, any acceleration must be reasonable and the clause must be executed in writing. Overall, a mortgage acceleration clause is an important part of the mortgage contract in Kansas and all other states. Without it, lenders would be unable to protect their investments in case a borrower falls behind in their mortgage payments.

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