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  • Casual Articles - Refinance Mortgage: Beware Prepayment Penalties that Steal Your Savings

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    lender includes in your loan contract. If you refinance or sell your home before the expiration of the penal
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    Refinancing your mortgage can save you money if you do it properly. There are a number of mistakes homeowners make that eat up their potential savings; many homeowners don’t even know and blindly go about their business, overpaying the mortgage lender month in and month out. Prepayment penalties are one such homeowner mistake; here are tips to help you avoid overpaying for your new mortgage loan.

    Prepayment penalties are a fee the lender includes in your loan contract. If you refinance or sell your home before the expiration of the penalt

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    make that eat up their potential savings; many homeowners don’t even know and blindly go about their business, overpaying the mortgage lender month in and month out. Prepayment penalties are one such homeowner mistake; here are tips to help you avoid overpaying for your new mortgage loan.

    Prepayment penalties are a fee the lender includes in your loan contract. If you refinance or sell your home before the expiration of the penal

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    overpaying the mortgage lender month in and month out. Prepayment penalties are one such homeowner mistake; here are tips to help you avoid overpaying for your new mortgage loan.

    Prepayment penalties are a fee the lender includes in your loan contract. If you refinance or sell your home before the expiration of the penal

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    here are tips to help you avoid overpaying for your new mortgage loan.

    Prepayment penalties are a fee the lender includes in your loan contract. If you refinance or sell your home before the expiration of the penal

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    lender includes in your loan contract. If you refinance or sell your home before the expiration of the penalty, you will be required to pay the fee. These penalties can be steep; the lender may require you to pay up to six months worth of interest based on 85% of the loan amount. If you are a homeowner with good credit there is no reason to accept a mortgage with a prepayment penalty.

    If you have poor credit you may have to accept a mortgage with a prepayment penalty; however, you should try and negotiate for a short penalty that will al

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