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In the US at least mortgage loans are not callable.
by sgerenser 6y ago
In the US at least mortgage loans are not callable.
- IncRnd 6y agoMost mortgages in the US contain a provision that allows the lender to call the loan under certain conditions.
- asdfasgasdgasdg 6y agoIt's been a while since I read my mortgage note, but I believe the only condition under which it is callable is a default. Unless I've misunderstood what callable means in this context.
- IncRnd 6y agoYou've got the right of what callable means. After researching more about this, I have learned that some mortgages also have additional callable acceleration provisions to lower the bank's risk - such as when a borrower's credit score falls.