Accelerate—refers to an “acceleration clause” option, which may or may not be in your mortgage or deed of trust. Accelerate requires you to pay off the whole loan balance if the loan is in default.
Affidavit—this refers to a sworn statement, commonly given under oath and with the presence of a notary.
Appraisal—when your property is appraised, an authorized person will give you an estimate on the value of the property.
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August 14th, 2010
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