Real estate blog entries tagged with mortgage penalty by Kerry Fox (Kerry Fox, Barrister & Solicitor)

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Home : Blogs : Kerry Fox : Kerry Fox's Blog : Tag "mortgage penalty"

mortgage penalty: Regulations may be coming for mortgage prepayment penalties - 06/02/10 03:16 PM

Regulations may be coming for mortgage prepayment penalties
With interest rates as low as they've been in years, many people selling their homes or refinancing have been faced with tremendous prepayment penalties. Although you can negotiate the penalty if you stay with the same lender, a lender isn't going to waive a prepayment penalty completely unless they can charge you a higher interest rate for the term of the loan.
The penalties are based on what is called ‘the interest rate differential', essentially, the difference between the rate you are paying and the rate the lender could charge you, or someone else, … (0 comments)

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Kerry Fox

Nepean, ON

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Kerry Fox, Barrister & Solicitor

Address: 90 Centrepointe Drive, Nepean, ON, K2G 6B1

Office Phone: (613) 224-4400

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