Penalties for Paying Your Mortgage Out Early Are Not All The Same

I just read an excellent post by my favourite mortgage blogger, Dave Larock which talks about the huge hidden costs of breaking a fixed term mortgage.

Dave explains that most people are shocked when they find out the penalty they will need to pay for this privilege and he goes on to explain how the choices you make today in selecting your mortgage lender can cost or save you BIG TIME in future.

In his post, he explains the different ways that lenders calculate fixed-rate mortgage penalties and, he suggests options borrowers today have to insure themselves against outrageous penalties by choosing the right lender at the outset.

If you are shopping for a mortgage today, it’s a very good idea to take the time to read Dave’s post so you are armed with the right questions to ask.  Doing so today may save you thousands of dollars in future.

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About Marg

is an award-winning real estate Broker who has successfully been helping people move since 1989. When it’s time for a move in or out of a bigger, smaller, better, more expensive, less expensive, newer, older, house, condo, farm, investment property, vacant lot or business, talk to Marg.

This entry was posted by Marg on Thursday, April 21st, 2011 at 5:19 am and is filed under Money Matters. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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