Call Option

Definition

  • A mortgage clause that provides the lender with rights to request the remaining balance of a mortgage at any time.

Synonyms
motion to be paid, stipulation, clause, requiring full payment, fine print, provision

Related Terms and Acronyms

  • Acceleration Clause Definition,
    • A provision within a document that explains how the lender expects payment for a loan, in due haste.
  • Alienation Clause Definition,
    • A requirement that the borrower pay the mortgage in full upon transfer of the property.
  • Breach of Contract (BOC) Acronym,
    • Failure to abide by terms of a legal agreement without a legal excuse.
  • Lender Definition,
    • The bank or mortgage company offering the loan.
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