Many contracts for debts contain "acceleration" clauses. This clause gives a creditor the right to "accelerate" the repayment when a payment is missed. Often, the creditor can require payment in full even when a single payment is missed. The courts may be able to force the debtor to pay a secured debt by seizing the debtor's property and selling it to pay off the debt.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure and alternatives lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure and alternatives attorney to discuss your specific legal situation.