Mortgage prepayment privileges. Reduce your mortgage and your mortgage penalty. You’re desperate to get out of your current mortgage, but your lender tells you that freedom has its price – you’ll have to...
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Tag Archives: Mortgage Penalties
Pay your mortgage off faster
Pay your mortgage off faster. And reduce your mortgage penalty at the same time. Looking for a way to reduce your mortgage penalty? It’s simple; pay your mortgage off faster! Before we look...
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Reduce Your Mortgage Penalty
Reduce Your Mortgage Penalty. A few quick tips to reduce mortgage penalties. You bought your house a few years ago at an interest rate of 5%. Now everywhere you look banks and credit...
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Mortgage Penalties Explained
Mortgage Penalties Explained. Basic in’s and out’s of a mortgage penalty. There are two types of mortgages: open and closed. Open mortgages can be paid off at any time without penalties, but the cost of...
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Interest Rate Differential
Interest Rate Differential (IRD). Understand how IRDs are calculated(at least the one’s we know…). Typically, mortgage penalties are calculated using the greater of three months interest or the Interest Rate Differential (IRD). But...
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