A defeasance clause in real estate requires the lender to release the mortgage lien once the loan is fully repaid. Learn how it protects borrowers, when it triggers, and what to expect on the real estate license exam.
A subordination clause in real estate allows a later-recorded mortgage to take priority over an earlier lien. Learn how subordination works, when it applies, and what to expect on the real estate license exam.
An acceleration clause allows a lender to demand full loan repayment immediately when a borrower defaults. Learn how it works, what triggers it, and what to expect on the real estate license exam.
Mortgage types define the loan programs available for financing real estate purchases. Learn conventional, FHA, VA, USDA, ARM, and jumbo loans and what to expect on the real estate license exam.