I doesn`t matter if you break 3 years later or 6 month before the term ends. You will pay the same mortgage penalty, 3 month mortgage interest or Interest Rate Deferential penalty.

A little clarification to mortgagepro`s comment. It is true that you will pay a penalty regardless of the months remaining but the penalty could be drastically different between a 3 year and 3 month remaining term. There are 2 calculations that the banks use for penalties. 3 months interest calculation and Interest Rate Differential IRD. If the conditions are right 3 months penalty for 3yr or 3month term should be close. If the conditions are such that an IRD will be used to calculate your penalty then you are looking at a huge difference in penalty. Talk to your bank and they will calculate the costs involved for you. My suggestion is to consider a port of your mortgage. A port is where you move the mortgage term rate and balance to the new property with no penalties. You can straight port it (no change in any mortgage particulars). You can port increase where you need more money (term remains the same, higher mortgage amount and the rate is blended with todays rate). Or do a port reduction (same term, same rate, smaller mortgage amount required for new house, some penalty may apply but much less than a complete break). One last thing I should mention. Once you bank gives you your options please contact a Mortgage Agent to do some further calculations for you. Many people have benefited from switching to a new bank for their new home. This is especially true today where rates are much lower than any mortgage started over 2 years ago. In the end what you end up doing with your mortgage must depend on how much money you will save going forward. That should be your #1 priority, mortgages are very expensive over time, you have to find ways to minimize your costs. I would be happy to consult with you if you have any questions. Abraham Niyazi - Mortgage Agent - Lic#M08010640 - Centum One FInancial Corp - Lic 10758. Cell: 416-993-4082 Toll Free: 1-866-728-3708 http://www.centum.ca/abraham_niyazi/ I deal with 25 Banks/Lenders and can do mortgages across Canada except Quebec.

If you have a commitment from the lender, then they cannot just change their mind unless they found something wrong with your application (i.e. undisclosed credits, wrong information on income source, different source of down payment as what was presented initially) . If you do not have a written commitment from the lender and you only have a verbal commitment, it may be difficult to bring them to court. The way we do pre-approval is like getting a real mortgage - submit all relevant documents up front and get the lender give us a mortgage commitment good for x-days. This assumes that your financial condition would be the same or better when the mortgage application with a property is submitted.

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I met with my bank on the 19th of march and they told me it would cost 3500 to break my mortgage and renegotiate. they took 2 weeks to get back to me and it took me 2 weeks to decide what to do (we decided to change banks) now the bank is giving me a different quote entirely. 7200. they are blaming it to a shift in interest rates and some other bank talk. is this for real? is there any hope i can get the rate they had originally gave me? fee is for paying out early originally 5 year term. 41 months left on term. this is in canada.

i'm assuming this is for paying the loan off early. it should note this on your note how much and how long. if it does not state this on your note i don't think they can make you pay anything. contact your state dept of banking.

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A few weeks ago my partner inquired at our bank about a mortgage break - he just asked for some info, it's not something we planned to do immediately, we just wanted to know more about it. we didn't agree to anything or sign anything. we checked our account to find that the mortgage money hasn't gone out this month, and when we rang the helpdesk they told us that yes, we had been signed up for a mortgage break. my partner will be going into a branch tomorrow to cancel this, but it means that our monthly repayments will go up from now on, and if we wanted to change mortgages or take a mortgage break in the future then our records would show we had already taken one, which would cause us problems. aside from making a formal complaint, what action can we take? it's not the first time our bank has signed us up for something without our permission (they signed us up to £98 a month life insurance despite us saying we didn't want it) and we are very, very angry - and worried! who knows what else the bank is going to do with our money?! we haven't got the luxury of a 'rainy day' fund, things like this could put us in financial trouble. so i was hoping someone could give us advice on what route to take now. unfortunately we can't move our mortgage for another 4 years because of the mortgage plan we are on. please help! thanks!

Talk to the bank manager or president. Does your country have agencies that oversee banking procedure? If so, you might want to file a formal complaint there too. The thing is, are you sure your partner didn't sign anything? It is really wrong to sign you up for something without being able to produce a signature. I would tell the manager/president they need to UNDO what has been done as if it never happened. Especially if there is no signed document proving you wanted this service.

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I have a mortgage with all kinds of questionable activities on it. we have worked with our senator and congressman to no avail. the presidents office sent to over to freddie mac also: again told they will not help us because over their head in questionable activity. my husband is dyeing from cancer and has very little time left. nobody has been able or should i say willing to listen to us as well as thousands of other citizens stuck in this nightmare. then we read that the government is trying to get all the state attorney generals to sign off stopping law suits against these big banks.why? the press and the government gives all kinds of coverage to the law suits etc. these banks file, but the give little or no coverage or assistance to those of us stuck in the nightmare. so why take away our legal rights also? friday, september 30th despite a court ordered injunction again the bank, they put large notices on my house that they were going to break in and change the locks and winterize my home while i am staying with my husband while he dies. so again we ask what is the president going to propose congress do to clean up this mess, since we all know the hope for america program has not worked.

Maybe YOU should have read the terms of your agreement with the bank before signing it? YOU signed it. YOU should have read what was in it. YOU should have refused it if it wasn't something you were comfortable with. YOU have nobody to blame but YOU.

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Didn't they just bail out the mortgage/bank industry? and didn't the banks change their minds after they got the funds on how it would be used? the same mortgage companies that said they were broke and going under, their ceo's were seen using company funds to pay for their weekend retreat in palm springs right after the bail out. when will it all stop? do the ceo's of these companies that we as citizens help create need a $4 million dollar bonus every year while its workers are rubbing two pennies together to try and feed their family? how about the government bail us all out and we just all start over. that's what the big corporations want. what makes them any better than us little people? my point was, the big 3 won't use the money to help the workers, they will use it to help thier ceo's just like the banks did, so there won't be a trickle down to the ma & pap shops. why not use the funds so the ma & paps can use it to stay afloat too

I'm a Michigander and my family relies a 0n the auto industry just as most of us in michigan do. But i,m still not so sure if the bail out is the best thing to do......yes it would hurt our economy horribly and i don't mean just michigan. But I can't help thinking maybe this is what this country needs ...TO FALL ON IT"S @@@ to bring us back to reality and down to earth and realize we don't need TVs in every room and we don't need to have the latest game system or a different one on every tv in the house . Maybe we need to have a little less material things and spend a little no scratch that a lot more time conversing with our families. Does a family of lets say 4 really need a house that has 4 bathrooms and 5000 square feet of living space? Come on people maybe if we start spending more time as a family that eats and laughs and maybe even plays a game or two together we may even find that some of the crime and drug and alcohol abuse might stop. Any one else share my thoughts?

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First read this question, it has something to do with this:: http://ca.answers.yahoo.com/questio n/index;_ylt=arbuxwcbyrg3zs0itpjsbf 7bfqx.;_ylv=3?qid=20080822071247aae nxyg then read this. our mortgage company majorly screwed up. in august, we switched banks (our mortgage is not with our banks). we usually have direct withdrawl for our mortgage payments. we told them we would be afew days late with out payment while we switched banks. after we were 3 days late, they demanded we pay them immediately. they would not accept registered mail (to send a cheque or cash for it), but only western union or a bank payment. we opted to send a western union payment, so we would have a receipt of the payment. we sent the payment, and called the mort. company with a reference #. they accepted it no issues, and we thought the matter was closed. 2 weeks later (and 2 days before our wedding) a court officer showed up at our door with paperwork that the mortgage company was commencing legal action over non-payment of our mortgage (our payment is $418 bi weekly, we had been late with one payment). we called our lawyer and the mortgage company, and they said to dis-regard the notice, it had all been worked out- the western union payment hadn't been submitted by their internal billing dept. in time for them to cancel court proceedings. we got a letter from the mortgage company stating to disregard the repossession proceeding papers we had gotten. we considered the matter closed. last friday, a sheriff of the court showed up at our door, served me papers that we had 7 days to leave the house and have all our stuff gone- they were repossessing our house. i freaked out, called hubby @ work and he came home. we again called the lawyer then the mortgage comp. we had to fax them the western union receipt for proof we paid. we did so, and the next day we had a notice from the canadian superior court of justice saying to disregard the notice of intent to repossess, and that the suit was closed, our mortgage was paid up and in good standing. so, again, we considered it over with. the lawyer for the mortgage company told us they were faxing the dismissal papers over to the local court (and sheriff and court officer who was supposed to evict us). we had to go to a funeral yesterday for my hubbys uncle. we were gone overnight about 3 hours from home. we got home @ 12 noon today, and notices were taped to our windows, all our door locks had been changed, and bars put over our windows so we couldn't get into our house (keep in mind it is cold here in northern canada, in november- and we have 2 children under age 3). so esentially we were locked out of our home. we both freaked out, smashed a garage window and broke into our house. the sherriff and whoever changed the locks damaged some of our property- we need a new rear entry door, our front door is damaged and the door jamb needs replacing, they left the old knobs on the floor, our hardwood floor by the door is damaged, and our elderly indoor cat was sitting out in the cold by the front door when we arrived at home. our dog had been taken by animal control to the pound where we had to pay to get her out. we still have all the paperwork pertaining to this issue, i took photos of the damages, and filed a report with the police about unlawful entry. we want to sue, but the mortgage company lawyer just laughed at us and said "good luck, we have every right to protect our investments". the thing is, this is not our fault! it seems like every time we turn around, this company is screwing up something major. i'm worried to leave the house now in case we can't get back in and are stuck in the cold with the kids. what can we do about this?! i am so p-i-ssed off, i'm shaking still. we are in our home right now but i'm worried someone will show up to evict us or charge us for being in here. my hubby had to go to work or he would probably lose his job, so i'm here alone with the kids and freaking out. i'm also really concerned about the ownership of our home- and about our credit rating and all the legal aspects of this.... help! what should we do?! we go to talk to a lawyer monday about filing a lawsuit and suing the company for harassment, emotional and financial distress, unlawful entry, damage to property and whatever else we can sue for. this is insane and we have to do something... we cannot afford to pay for penalties to switch our mortgage, we would be content with suing them for the balance of our mortgage ($124 thousand) and legal fees- and for the money to fix the damages and for the $110 we had to pay to get the flippin' dog out of the slammer. i'm just so mad. i told hubby i was going to call the most major newspapers and tv shows in the province and tell them about this, and see how the company likes it. also going to file a disupte and complaint against them with the better business bureau, which will basically put a mark against them if any potential clients check their bbb rating...

It sounds like you are on the right track - legal action at this point is your only recourse. Also, as soon as your mortgage term expires, I would be looking for a new lender. Depending on how old your mortgage is and what you still owe, you may even decide that it would be worth paying penalties to refinance with a different company.

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Is there anything we should learn from the banking crisis in nyc? i'll offer three possibilities very briefly, and would appreciate your comments on those, and all your other respectful, germaine, serious comments. #1 big banks are a bad idea this seems to me unlikely to be what we should learn. if the rest of the world had big banks, and we had none, it would put usa at a serious disadvantage in world markets. #2 laissez-faire capitalism applied to big banks is a bad idea. this seems plausible as a possible lesson we might learn. i'm talking here about the capitalism wanted by reagan, bush i, bush ii, phil gramm, milton friedman, cato institute, u.s. chamber of commerce, ayn rand, and the deregulatory zealots. we might decide that for big banks there's no capitalism like regulated capitalism, and there really should be regulators, and they really should do their jobs, not just watch porn on the internet (like sec regulators did). #3 government of laws and not of men needs to be moderated to a degree for big banks. we already have begun to explore what "government of men" would be like in the person of ken feinberg who did a creditable job on the compensation of the 9/11 victims, and on employee compensation at the big banks, and most recently on the gulf oil spill victims. when ken gets commissioned by the ag he has unfettered discretion and can't be fired by the ag or anyone else. it's absolute power. it's the government of men (and not of laws). this approach may be what's needed on wall street and throughout the financial industry. the big banks and mortgage companies take every new law, assign 1000 teams of lawyers to it, broken down by sections, and within 6 to 8 weeks they find 10,000 ways to completely avoid, circumvent, and engineer around the law so it has absolutely no impact on them apart from minor shifts in their business model. the way this could stop is if the usa had some sort of star chamber magistrate in charge of monitoring what goes on in the financial industry and issuing injunctions to put an instant stop to sleazy, smarmy, rotten, unacceptable conduct as soon as it appears. these injunctions would not be based on violations of law, they would be based on the unfettered discretion of the star chamber magistrate. whatever he/she says all players in the industry have to do, or be closed down, by the full force of the us government. rule of men sometimes works when rule of law fails. lincoln knew this. he knew that he had to declare martial law and he had to be the source of injunctions that could not be disobeyed. we may need something like martial law to control wall street, payday lenders, and the mortgage industry. 2000 page bills out of congress are extremely unlikely to have any impact whatsoever. washington writes 2000 pages, new york assigns 1000 lawyers, every lawyer gets 2 pages, and comes up with 200 ways to work around the law, in about 12 weeks, so the big doorstop mostly just gives sore backs to law library employees -- it has no actual effect on the financial industry, or on the evil-doers therein (except for skilling, who now says he should get out of jail, and lloyd blankfein who walks down park avenue giving everybody raspberries and bronx cheers and yelling -- look, i'm not in jail!). in ancient egypt, a very conservative culture, if three of the great pyramids at giza suddenly fell over and crushed a few hundred thousand people, somebody in the phahrao's office would probabaly have asked, "are we doing anything wrong, should we consider making some changes in how we do business?" i'm just asking ---- how about us --- is there anything we should learn from our economic collapse on wall street? to caudex: you make excellent points. my question was very carefully written. it calls for thoughts about what we might do going forward. it is not in any way related to the bailouts, which seem to be the topic of your answer. i welcome all intelligent remarks. caudex has made some intelligent remarks, so i'm not griping. but why not, you bright folks, like caudex, take a few seconds to read my question, and then answer it in its own terms. the question contain three possibilities. the third one is the most radical and the most serious. took a lot of work to figure it out. why not at least comment on that, instead of just posting the macro you have stored on the bailouts, which i approve of, and have no problem with, so they are not the topic of my question. but on that subject, how in heck could aig's stock be worth $40 per share instead of zero when it owes $380 billion to the us taxpayers? what are its assets? is wall street completely crazy? who audits aig?

The problem is one of human nature: when all is going well, why worry about what might go wrong? On a more sympathetic note, it is very difficult to justify making economic changes that are detrimental in the short term when you don't know exactly when the expected crash will come. If changes are implemented, people don't see any positives from them, because they don't see the crash that has been avoided. This then leads to people wanting the changes made to be undone - when there is no risk of things going wrong, why keep measures in place against them when by removing them you could make a quick buck? Put it this way: 10 years ago, would you have suggested that the banks would be more careful when their risks were making western economies enormous gains? The only time you can say yes is when you KNOW that a global recession would come in the relative short term. Even with that knowledge, you might decide to wait five or six years before changing anything to get the extra financial benefit. Humanity is driven by greed, whether you like it or not, which is why we will always be at risk of massive economic recession - without risk, we can't gain that extra bit of cash in the good years. 15 years of gain followed by 5 of massive hardship is, it would seem, preferable to 20 years of stability without chance of genuine wealth.

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Im a renter and the lanlord hasnt been paying her mortgage and the people came the other day to winterrize and changed the locks they told me if id hadnt been there they woulda changed the locks and i wouldnt of been able to get none of my stuff the lanlord says she is going to pay the bank and the house wont get reposed i dont believe her i think im going to get the eviction letter any day im up to date on my rent can i break my lease ?

Ya better.

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What i'm saying is, i don't know that redistributing wealth changes anything. if government started handing out more money to everyone, some people would waste all that money, or would buy something really expensive on credit or purchase an expensive mortgage, and they'd still be in debt and would be in need of more government assistance. people would still live the same except they'd have more junk in their house and maybe be in a bigger house that's not even theirs 'cause the bank still owns the property. basically all that government money went to retailers and banks in that scenario. government would've been better off just giving tax breaks to businesses. things and products and houses don't change you. they're really meaningless, so when socialists argue for giving people more than just the basic essentials like food, healthcare, housing, childcare (which government already provides for the poor), it just doesn't seem like it makes a difference.

Power shouldn't be in the hands of the government, nor the market. It should be in the hands of the people.

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I have been with my boyfriend for almost 7 years now. we are 21 years old and have known each other since middle school, we got together officially in high school. i have lived with him at his parents house for about a year, he lived with my at my parents house for about 6 months, and we bought a condo together 6 months ago. marriage is something we have talked about. my parents like him, his parents like me, and they are asking when children will be on the way! we both make the same amount of money and pay for things equally. he gets the mortgage, i do all the grocery shopping, pay insurance and electricity bills, etc. it is even. our bank accounts are separate. the problems i am having with him is mainly his temper, and a few other smaller things. i know i aggravate his temper because he hates it when i nag and complain to him about things, but i really think he goes too far sometimes and over reacts about dumb stuff. i have been dealing with this for so long and i am starting to think i don't want to deal with it for the rest of my life. i complain a lot about housework that needs to be done. i will for 75% of the time do all the dishes, clean the bathrooms, do the laundry, sweep and mop, dust, and put things away when we have been using them. i think we should do things equally, seeing as how we both make the same amount of money and everything. if i were a house wife and he were bringing in the majority of the money, of course i would do all the house work and not worry about him doing anything really....but that's not the case. he doesn't care about making messes, and i'm tired of always cleaning up after him so of course i complain when he leaves messes........and now he just yells and gets so upset to the point that he will throw things. he has never hit me or anything, but his temper tantrums scare and upset me. he has always acted like this when he annoyed with me, but i do think it has improved from when i first met him (he used to punch walls and come very close to coming towards me, but he isn't that bad anymore). i think he is trying to change his behavior but it is hard for him. usually after an outburst he will calm down after a while and tell me he is sorry and then we make up and talk about what happened. but seriously, whenever he has a temper tantrum i always feel like i want to run out the door and never come back. he makes me soooooooooooo mad, and i keep telling myself i need to break up with him. we annoy each other, and it is becoming more frequent, but at the same time we also enjoy spending time with one another. we have a lot of similar interests and hobbies and have fun together. we are talking about ways to make things fair such as dividing up jobs...he takes out the trash, i sweep....etc. but i see this failing because he will just not do his jobs, and i will nag at him to do them, and then he will have one of his tantrums again. is there a way to fix this, or should i give up and move on? my problem right now is that we just bought a condo. the market for selling a house isn't good right now, so it isn't like i can just waltz on out of here or anything. we need each other financially, but i just don't know if i can make things work out with him anymore because i find that i feel frustrated more frequently than i think is normal. help :(

First, answer this question: "What one food has been known to make women less likely to want sex?" Wedding Cake. After you get married, the problems which were little, become large. Even if you don't get married, the longer you are together, the more he'll get on your nerves. If you are annoyed at his refusal to help, or to just listen to you now, or other things, it will get worse. You will likely become angry, maybe even hostile, perhaps murderous. You are both adults and seven years is a long time together to throw away. The main necessary ingredient for any healthy relationship is honest open communication. There are counselors who will help you both (has to be a together thing) communicate with each other. If he won't go, you can, but it takes two to make or break a relationship. There is no "I" in "teamwork". Good luck & Merry Christmas.

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1 thou shalt behead apostates, pagans and violators of blasphemy laws, it is halal for you. 2.thou shalt extort money from christians and jews, the future hell dwellers, and if they refuse, kill them. but do not hurt their women and children, it is haram for you. however thou shalt enslave them, rape them or sell them for profit, it is halal for you. 3. thou art guaranteed paradise and 72 big bosomed houris (and/or charming young boys), along with other fringes, if you cough up big bucks and take a trip to mecca. poverty stricken chaps and losers among you who cannot afford the trip, can earn the same privileges and more by participating in jihad and killing the infidels. the jihadis will get the additional bonus of sharing the booty and beautiful women from the captured infidel lands. 4. thou shalt marry a maximum of four wives at a time, except for my messenger whom i have exempted from this limit since his needs are equal to the needs of 30 horny men. however thou art allowed to change your wives at will for variety and maintenance of your harem quality by divorcing them and acquiring younger specimens. old bags lose their charm and excitement and must be replenished with a fresh supply. try to acquire younger and better looking ones preferably virgins, leave the older ones and ugliest for the losers and old fogies. 5. thou art allowed to have unlimited number of slaves and captive women and have sex with them, it is halal for you. gay guys among you will have to wait for their fun, we will provide them with charming young boys in paradise. alcohol lovers, hold your horses until you make it to the paradise, there will be rivers flowing with wine, up there. 6. for those amongst you who have pedophilic tendencies, we have made underage children halal for marriage and your carnal pleasure. however let them keep and play with their dolls while you are at it so that their attention is diverted from their pain and shock. thou art also allowed to marry your daughter in law in case you keep getting excited by her voluptuous body every time you happen to see her in skimpy clothes. 7 thou can demand sex from your women any time and anywhere, even on a camel's back. thou shalt keep a lash or a green stick handy in case they refuse and need a good beating. however while doing it on a camels back with your wife, make sure that the hijab is maintained by keeping all yours and her body parts covered with the burka during the action. in case of doing it with your slave girl on a camel’s back hijab requirement is exempted, you are allowed to enjoy the sunshine and the fresh air along with her curves. 8. thou shalt not listen to music, watch t.v. or go to the movies, these activities are haram for you. however thou shalt take your family to watch beheadings of apostates and kafirs, cutting of hands and feet of petty thieves, and stoning of adulterers, their viewing is halal for you. 9.thou shalt not indulge in haram professions like selling non halal meat, food items with lard in it, or confectionary even with 1% liquor in it or working in interest charging banks and mortgage companies etc. thou shalt only indulge in clean and halal means of earning livelihood like slave trading, looting infidel caravans and communities, killing jews and acquiring their goods and properties, extortion of jizya and kharaj from captured lands, and booty earning bloody jihads. 10. ramadan rules. thou art not allowed the pleasure of eating or drinking during the fast (except for wives who have to taste food lest their husbands beat them up for cooking foul tasting food) but thou art allowed to kiss your wives, slaves (only female) and the women your right hand posses, to wait out the rough afternoon hungry period. thou art not allowed to eat pigs but thou art allowed to pig out after breaking the fast. thou art not allowed to have conjugal relationship during the fast but art allowed to break a fast with sex instead of food. husbands are allowed to prohibit wives from fasting to keep the ladies fresh and beautiful for a romantic evening after a hard day of fasting.

Despite people slamming you for posting this question, you are correct. On the surface, Muslims are violent. The religiously uneducated follow these commandments in a literal manner. Thanks.