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What happens if the borrower fails to perform under the terms of the Agreement?

April 26, 2017Agreement borrower fails happens perform terms

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What happens if the borrower fails to perform under the terms of the Agreement?

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The lender may refuse to make further releases from the Rehabilitation Escrow Account. The funds remaining in the account can be applied to reduce the mortgage principal. Also, the lender has the option to call the mortgage loan due and payable.