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Mortgage Prepayment Penalty

Minimizing Mortgage Refinancing Risks

November 6, 2007

Mortgage refinancing offers many advantages and potential savings; however, there are a number of risks and expenses that you should keep in mind. If you are refinancing because your existing mortgage has an adjustable interest rate you can minimize your risks by choosing a mortgage with a fixed interest rate; however, anytime you take [...]

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Refinancing Headaches

July 20, 2007

If you’re in the process of refinancing your home mortgage there are a number of expensive pitfalls you’re likely to encounter along the way. Doing your homework before refinancing will not only help you avoid refinancing headaches but save you thousands of dollars in the process. Here are several tips to help [...]

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Mortgage Prepayment Penalty

January 12, 2007

What is a Mortgage Prepayment Penalty?
The mortgage prepayment penalty is a clause in your loan contract that requires you to pay a fee for terminating your loan early. This means if you sell your home or refinance your mortgage before the penalty expires, you will have to pay the fee. Mortgage prepayment penalties [...]

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