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If you own a home already and are looking tob move and buy another house doo they still count your current mortgage against you

 
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Bev


If you own a home already and are looking tob move and buy another house doo they still count your current mortgage against you?
0     In Mortgage Cont.08

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    Q. Is it possible to have your current mortgage transferred to a new home?


    In Ontario, if you discharge your mortgage before it matures, you pay a penalty. However, if you reapply for a new mortgage within 90 days from discharging, you receive a portion of that back. I believe it is called "porting" your mortgage.

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    Can you help us by answering one of these related questions?
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