Lender Spreadsheet provides an Acceleration letter to send to your borrower, which is a demand for them to payoff their mortgage in full. It is our experience that they never do, so it is realistically just a formality before filing for foreclosure.
Print your Acceleration Notice
It is easy to print your Acceleration Notice letter or save it as a pdf file. Learn more about printing and saving to pdf.
Add a Signature Image
If you intend to save your form as a pdf and email it to your borrower, you can add an image of your signature, so that you do not need to print the form to paper first, sign it and then scan it to pdf. Learn how to add an image of your signature to your letter.
If you are about to send an Acceleration Notice, you have probably not been paid. You must enter all payments and non-payments correctly first.
If you have received NO Payment
If you have received NO Payment whatsoever, you first need to accrue the missing payment on the Record Payments worksheet. Learn about how to accrue missed payments.
If you have received a Partial Payment
If your borrower has sent a Partial Payment and you want to send a Late Notice for the difference, you will need to accrue the partial payment on the Record Payments worksheet. Learn about now to accrue a Partial Payment on time or how to accrue a Partial Payment Late.
It is important to understand how Late Charges work so that you don't miss out on Late Charges due or charge one where a charge is NOT due. Learn about Late Charges.
Click on the Accel Notice worksheet.
There are 3 main options for this letter:
1. Payoff Start Date
The date you wish your Accel Notice payoff date to commence.
In our example we have entered 4/1/21 in Cell G2.
2. Additional Payoff Charges
You can enter any additional charges, such as legal fees.
In our example we have entered 200 in Cell G4.
3. Deadline Before Attorneys
Enter a date to demand the loan is paid off by.
In our example we have entered 4/14/21 as our date.
There is one further option you can select.
Scroll across to the right of the worksheet and in Cell O25 there is a dropdown with options Yes or No. If you select Yes, no further Late Charges will be added to the Payoff on the Acceleration Notice. If you are at the point of sending this notice, you probably don't want to select Yes, but you have the option.
As mentioned above, this also follows the Payoff rules and it is important to Learn about Payoff to understand how this dropdown works on the Acceleration Notice.
Once you have entered the relevant dates and charges in the boxes above, your Acceleration Notice is ready.
Get in touch if you’re having problems, need something specific or have questions about our spreadsheet.
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