Tag Archive for: early pay off penalties

Recasting or Re-Amortizing a Mortgage – Misconceptions & No Guarantees!

/in ,
Now that our bridge loans are becoming so popular, we are having a lot of conversations with borrowers about recasting. Recasting = Re-amortization of Mortgage After a Lump Sum Paydown […]Read More

Will Prepayment Penalties Return?

/in ,
A young couple was sitting in my office crying. It was around 2005, they were on a very tight budget, their rate had just adjusted to almost 10%, they had […]Read More

Low Rates & Early Pay Off Penalties; Six Months Is All We Ask

/in ,
Rates have fallen about 1/4 percent over the last few weeks and they are almost 1% lower than their peak only a few months back. As a result, everyone is […]Read More

Early Pay Off Penalties For Most Mortgages – Fee Paid By Lenders

/in ,
Early Pay Off Penalties (EPO) Yesterday a borrower informed us that she intended to pay off her mortgage soon after we close because she was expecting a windfall from the […]Read More