Tag Archive for: prepayment penalties

What Is A Prepayment Penalty?

A prepayment penalty on a mortgage loan is a fee that can be charged by a lender when your mortgage is paid off in full or in part early.Read More

What Are Early Pay Off Penalties?

Early Pay Off Penalties (also referred to as EPOs) are often confused with Prepayment Penalties. The EPO meaning in mortgage language relates to fees charged to a lender when a borrower pays off their loan within a certain period after the loan is sold on the secondary market.Read More

Will Prepayment Penalties Return?

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

Prepayment Penalties Thing of the Past; Early Pay Off Penalties?

Prior to the mortgage meltdown, prepayment penalties were relatively common. The penalties were typically from one to five years in length, and were commonly associated with Adjustable Rate Mortgages (ARMs). […]Read More

Mass “Disclosures” – What To Look For?

All mortgage lenders force borrowers to read, digest and sign an enormous quantity of “disclosures,” closing documents, and/or forms full of boilerplate and terms. There is often more than borrowers […]Read More