Assume that an individual has just lost his job and has been consistently late paying his bills. The bank recognizes deterioration in the individual's credit score and has notified him that he must pay his home equity line of credit in full. The mortgage clause that makes this possible is known as the:

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The demand clause, also known as acceleration clause or call clause, is a clause in a loan agreement that allows the lender to demand the borrower to pay the full balance of the loan immediately if certain conditions, such as default or late payments, are met. In this case, the bank has recognized the deterioration in the individual's credit score and has taken advantage of the demand clause to ask for full payment of the home equity line of credit.

Assume That an Individual Has Just Lost His Job and Has