Call Option

Definition

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

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

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.