Acceleration

Acceleration refers to the advancing of a loan due date, such that the entire amount of the unpaid balance of the loan is thereafter accelerated and is immediately due and owing. This acceleration often is involved when a mortgage payment, or an installment payment is missed. The lender may send notice to the debtor that the loan is in default and the entire amount of the loan is accelerated and is now due. This can also refer to situations where the time for the vesting of a particular legal right is shortened or hastened.