Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

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Who benefits from an acceleration clause in a mortgage agreement?

The borrower
The lender
The real estate agent
The property appraiser
The home inspector
The title company

The correct answer is: The lender

An acceleration clause in a mortgage agreement benefits the lender. This clause allows the lender to demand immediate and full repayment of the loan if the borrower fails to meet certain specified conditions, such as missing payments or defaulting on the loan. By having an acceleration clause, the lender can protect their interests and ensure timely repayment of the loan amount. The other options are not directly related to the benefits of an acceleration clause in a mortgage agreement.