The acceleration clause is the part of a mortgage that allows a lender to call the remaining principal balance due, and ultimately take the property through foreclosure if the acceleration demand is not met.
On a forward mortgage the acceleration clause is triggered if the monthly payments are not made on time. Everyone knows if you don't make your payments you loose your house. What most people don't understand is that reverse mortgages have an acceleration clause as well, but it is triggered under different circumstances.
The main reasons are reverse mortgages is accelerated (meaning the entire remaining balance becomes due immediately) include: the borrowers pass away or the borrowers no longer occupy the home.
When either of these events occur, the reverse mortgage becomes due. If you or your heirs wish to keep the house they must satisfy the acceleration and pay off the mortgage. If you don't, you can just walk away with no consequence other than the bank taking the house because a reverse mortgage is a non-recourse loan. "Non recourse" is discussed in another article.