Why on earth would you be willing to pay for the privilege of paying off your home loan? That is essentially what you will be agreeing to, if your finance company attempts to include a prepayment penalty in the terms of your loan. The simple advice is don’t walk away, run! Good For Lenders Bad For […]
Tag Archive | "mortgage prepayment penalty"
Mortgage prepayment penalties are still applied to certain mortgage accounts, even though they are not as common as they were a few years ago. Fundamentally, a prepayment penalty is an agreement between you and a lender that you will pay extra to the lender if you repay your loan earlier than the contracted period. They […]