Mortgage Company Calling a Note Due Primary Residence

1 Reply

Can a mortgage company call your note due/ accelerate it if you sell a primary residence within a year of buying it? Don't they call your note due or accelerate if you sell anyway? Does it matter if there is an extenuating circumstance?

When you sell the house (which is the collateral for the loan), you have to pay off the loan anyway (unless you’re doing some sub2 deal) in order for the buyer to have clear title, so they wouldn’t need to “call” it.  Extenuating circumstances don’t matter.