B Requirement of Acceleration

• Library: Foreclosures Guidebook (2017 Ed.)

B. Requirement of Acceleration

An acceleration clause is solely for the benefit of the holder of the note, and it confers on the holder an option to treat the entire debt as due. Capital City Motors, Inc. v. Thomas W. Garland, Inc., 363 S.W.2d 575, 578 (Mo. 1962). A holder that decides to exercise the option is required to perform some affirmative act evidencing the intention to take advantage of the accelerating provision before the mortgagor makes a tender of the amount actually due. Until the holder does so, the mortgagor may terminate the right of acceleration and cure the default by proper tender of payment. Miller v. Jones, 635 S.W.2d 360, 362 (Mo. App. S.D. 1982).

In In re Hall, 265 B.R. 435 (Bankr. W.D. Mo. 2001), Judge Koger stated that, even though the deed of trust contained language that acceleration was “automatic” upon default...