Refi to avoid repayment penalty
I want to pay off my mortgage early but my bank charges a surprisingly (?) hefty penalty for early repayment. Is there a way to avoid this? I was thinking maybe refi using a lender who already knows my plans? by cathfujita78643889 from Flagstaff, Arizona. Jul 28th 2014
Steven Ceceri (123LoanYes)
#12 ranked lender in Rhode Island - 723 contributions
You can call your lender and ask if they can waive or reduce the prepayment penalty if you refinance with them as that call would be free to make. Is this a residential property or commercial by chance?
Chris Gummerson (cgummerson11)
#397 ranked lender in California - 648 contributions
Check in your mortgage documents to verify if you have a prepayment penalty and what the terms are.
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