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Does selling home result in breaking mortgage fee

 
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Asked by

Kathe


Does selling home result in breaking mortgage fee? Thanks.
0     In Mortgage Cont.13

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    Q. Are you breaking the mortage by selling your home?


    Technically you are breaking your mortgage if you are selling your home unless you are porting this mortgage to another property. You will have to pay the penalties involved in breaking the mortgage unless specified by the lender on your mortgage documents. Banks in most cases do not waive penalties.

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