Easy Rate QnA forum: Ask any question...
Home

Ask your question fast!
Question

Question Detail (required)


Login or Signup Now




Username:

Password:


Create Account
Lost Password

Leader Board
Leading ExpertsCredits
1.MortgageEnde11842Level 7
2.ANiyazi4816Level 5
3.mortgagepro4496Level 5
4.carrielawlor1676Level 4
5.MortgageManC1105Level 3
6.t_cameron76558Level 2
7.admingal1975519Level 2
8.khourypa362Level 2
9.Pattymurph341Level 2
10.Flip307Level 2
11.propertysold264Level 2
12.Magan245Level 1
13.michaels4316245Level 1
14.Ron244Level 1
15.Tristan238Level 1
16.Ned238Level 1
17.geoff12345237Level 1
18.ConsumerProt234Level 1
19.Shirly232Level 1
20.Tracey228Level 1
21.Charlie218Level 1
22.Desperatewif213Level 1
23.Jennette206Level 1
24.Alejandra201Level 1
25.Eusebio 199Level 1
View all

Categories



    A.
  • Abroad
  • Account
  • Accountant
  • Afford
  • 2 3
  • Against
  • Alberta
  • Ally
  • American
  • Amex
  • Amount
  • Appraised
  • Approval
  • Approved
  • Arrive
  • Australia
  • Auto
  • Average


  • B.
  • Baby
  • Bank
  • 2 3 4 5
  • Bedroom
  • Benefit
  • Bill
  • Bring
  • Brunswick
  • Buying


  • C.
  • Calculate
  • Calgary
  • California
  • Canada
  • 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34
  • Canadian
  • 2 3 4
  • Canda
  • Capital
  • Car
  • Card
  • Cash
  • Cctb
  • Certificate
  • Charge
  • Check
  • 2 3
  • Cheque
  • 2 3 4
  • Child
  • 2
  • Claim
  • 2 3 4 5
  • Closing
  • Collect
  • Columbia
  • Coming
  • Common
  • Company
  • Condo
  • Contract
  • County
  • Court
  • Credit
  • 2 3 4 5 6 7 8

    D.
  • Date
  • Day
  • Debt
  • Declare
  • Deduct
  • Deducted
  • Default
  • Delivered
  • Demand
  • Deposit
  • 2
  • Deposited
  • Direct
  • Disability
  • 2 3
  • Distributed
  • Divorce
  • Dollar
  • Dont
  • Dose
  • Downpayment


  • E.
  • Early
  • Earn
  • Earned
  • Earning
  • Economy
  • Edmonton
  • Employer
  • Employment
  • Estate
  • Expire


  • F.
  • Facility
  • Fargo
  • Federal
  • File
  • Filed
  • Filing
  • Fill
  • Floor
  • Florida
  • Following
  • Foot
  • Foreign
  • Full


  • G.
  • Getting
  • Going
  • 2
  • Gold
  • Goverment
  • Government
  • Govt
  • Gst


  • H.
  • Happen
  • Happened
  • Haven
  • Havent
  • Heloc
  • Hour
  • Hst
  • Husband


  • I.
  • Income
  • 2 3 4 5 6 7
  • Increase
  • Inspection
  • Insurance
  • Interest
  • Interview
  • Into
  • Issued


  • J.
  • Jail


  • L.
  • Landlord
  • Lease
  • Leather
  • Leave
  • Lien
  • Loan
  • 2 3 4
  • Lose
  • Lost
  • Luxury


  • M.
  • Mail
  • 2 3
  • Mailed
  • Making
  • Manitoba
  • Married
  • Mastercard
  • Medical
  • Missed
  • Money
  • 2 3 4 5 6
  • Month
  • Monthly
  • Morgage
  • Mortage
  • Mortgage
  • 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
  • Multiple


  • N.
  • Newfoundland
  • Next
  • Note
  • Nursing


  • O.
  • Odsp
  • Offer
  • Ontario
  • 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
  • Open
  • Osap
  • Other
  • Other 1
  • Other 2
  • Other 3
  • Other 4
  • Other 5
  • Ottawa
  • Owe
  • Owner


  • P.
  • Package
  • Paid
  • Past
  • Pawn
  • Pay
  • Paycheck
  • Payed
  • Paying
  • Payment
  • 2 3
  • Percent
  • Percentage
  • Person
  • Personal
  • Phone
  • Pick
  • Pizza
  • Post
  • Premium
  • Price
  • Property
  • 2
  • Purchase
  • Purolator


  • Q.
  • Qualify
  • Quarterly
  • Quebec


  • R.
  • Rate
  • Rebate
  • Receive
  • Received
  • Recieve
  • Recieved
  • Recive
  • Reference
  • Refund
  • Registration
  • Rent
  • Rental
  • Repo
  • Report
  • Resident
  • Resource
  • Return
  • Rise
  • Rrsp


  • S.
  • Salary
  • Sale
  • Santander
  • Save
  • Scotia
  • Sell
  • 2
  • Selling
  • Send
  • Sent
  • Sept
  • Septic
  • Ship
  • Shipping
  • Single
  • Slip
  • Social
  • 2 3
  • Sold
  • Someone
  • Something
  • Sort
  • Spouse
  • Ssdi
  • Ssi
  • Stolen
  • Strata
  • Strike
  • 2 3 4
  • Student
  • Support
  • Surrey


  • T.
  • Taken
  • Tax
  • Taxe
  • Taxed
  • Thousand
  • Ticket
  • Toronto
  • 2 3 4
  • Track
  • Transfer
  • Tuition


  • U.
  • Unemployment
  • United
  • Unused


  • V.
  • Vancouver
  • Vehicle
  • Verify
  • Visa
  • Visit


  • W.
  • Wage
  • Week
  • Welfare
  • 2
  • Wife
  • Winnipeg
  • Working


  • Y.
  • Year
  • York





How do banks calculate mortgage penalty if house sold

 
Answer
Subscribe
 
Report Abuse
   



Vote:
Asked by
anonymous


How do banks calculate mortgage penalty if house sold?
0     In Mortgage Cont.04

Industry Experts


    + Add Expert
    Recommend an Industry Expert - You can recommend an "expert in the field" below. An industry expert is anyone you feel would be well qualified to answer this question and publicly accepts inquiries on this subject. If you are an industry expert and you are willing to answer our user's inquiries, you can enter your contact information below.



     

    Q. What is ird penalty when breaking a mortgage and do banks apply this type of penalty in the mortgage contract?


    IRD or Interest Rate Deferential is a formula the banks use to calculate mortgage penalty if you decide to break the mortgage with your current lender. The IRD formula is used in a case where the current posted rates are lower then your mortgage rate. This is done in order to have a bigger penalty if you are breaking your mortgage for a better rate.

    Comment
    Reply
    Report


    0 0
      

     
    Add your answer/comments in just seconds. No signup necessary.
    Just put your answer in the box below and hit Save.


    Yes, also subscribe me to this question so I can follow the discussion




    Can you help us by answering one of these related questions?
    1. How does national bank calculate mortgage penalty?
    2. How to calculate mortgage penalty canada when selling the?
    3. How do i calculate 3 moths interest penalty on my mortgage canada?
    4. How to calculate the penalty on a fixed term closed mortgage?
    5. How to calculate the amount of penalty for paying out mortgage at scotiabank?
    6. How do i calculate 3 months interest penalty on my mortgage canada?
    7. How to calculate penalty to break mortgage meridian credit union?
    8. Do banks pay mortgage penalty fee?
    9. How do banks calculate mortgage penalties?
    10. What do banks do to calculate mortgage amounts?

    We need your help! Please help us improve our content by removing questions that are essentially the same and merging them into this question. Please tell us which questions below are the same as this one:

    Q: How do banks calculate mortgage penalty if house sold?
    • 79% - What would be the penalty on a 167 000 mortgage if i sold my house?
    • 78% - Can mortgage be repaid without penalty when house sold?
    • 78% - Is there a mortgage penalty when a house is sold in ontario?
    • 73% - How canadian banks calculate prepayment penalty?
    • 66% - I sold my house i change my mean what penalty?
    • 65% - Do i have to pay the penalty 0n my mortgage before it can be sold?
    • 65% - I just sold my house but couldnt close because of a penalty?
    • 65% - Is there a tax penalty for buying a house cheaper than the one you sold?
    • 65% - Do you pay prepayment penalty on mortage if house is sold?
    • 61% - How to calculate the penalty for selling a house before the term?
     

    © 2009-2011 Easyrate.ca Answers Community, All Rights Reserved.
    Need more answers to your questions? Search for answers at:
    PanamaREALS | NeWorldRealty - Investments | IDoWeb - General