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Will a mortgage company penalize me for selling my home early

 
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Cary


Will a mortgage company penalize me for selling my home early? Thanks.
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    Q. When you sell a home and pay off the mortgage do you get penalize?


    Check with your bank as there may or may not be any penalties. There would be an admin fee to discharge the mortgage against your name and clear the title with their claim.

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    Q. When you sell a home and pay off the mortgage do you get penalize?


    ON Canada - there is normally a penalty when you payoff the mortgage. Speak with your bank and find out. Remember to register the discharge documents with the land title office so that the bank`s name is removed as a lien holder in the title. This is when you truly do not owe any money - nothing shows on title.

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