I signed up for fixed rate which isn't due to expire for a couple of years , can i get out of it before it`s due and will there be a fee?Can i get out of my fixed rate mortgage?
Well you can pay it off or file for bankruptcy if thats what you are referring to. And if you pay it off early, there shouldn't be a fee as most standard mortgage contracts contain clauses that allow you to pay off early without penalty.Can i get out of my fixed rate mortgage?
You want to refinance for a lower interest rate, which is fine. Some lenders have a fee they charge for paying off early, but most don't. What will happen is you will find a new lender to do a mortgage with. You will get a loan for x amount of dollars and the existing mortgage will be paid off. You will still have a mortgage but with the new company, and the old will be cancelled.
probably and yes. there is no such thing as a free lunch.
No comments:
Post a Comment