where is the due on sale" clause printed or mentioned?in a mortagage?How can I know If my loan has one on it?
Thomas Dasta (lendfm)
#31 ranked lender in Georgia - 59 contributions
It would be located on the Note or Promissory Note which is part of the closing documents.
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
On the Promissory Note. Never seen one that doesn't have it. Why would a lender let you sell the home (collateral) yet keep a mortgage on it?
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
It's on the Promissory Note, and if you have any type of conforming financing (FHA, VA, USDA or Conventional), then that clause is there.. Its part of their "Boiler Plate" and is required for all conforming loan products. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893
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