For more information on renewing
your mortgage early call me at 604 813 8402 or email
[email protected]
Not exact matches
But one day in
early 2002, Whitney Tilson, a friend of Ackman's since their days at Harvard College,
called him at home to recommend that he buy a stake in a company
called Farmer Mac, the Fannie Mae of farm
mortgages.
In the
early 1980's, a new loan product
called a reverse
mortgage was approved to be insured by the Federal Housing Administration (FHA).
With
mortgage rates so low, whether to make
early payments on
mortgage debt has become a much closer
call than it used to be.
It is
called an open loan because borrowers can end
early if they are willing to pay a penalty of three months interest as indicated in the
mortgage.
Each
mortgage balances some issue amount against some payment stream; each has had zero or more payments recorded against it, each has an initial interest rate; an interest computation method; zero or more
early payment opportunities; some mention of late or missed payment penalties and conditions, and an expiry, renegotiation, or
call date.
There is limited action the Canadian
mortgage lender or bank will take in the
early days besides
calling you and remind you to pay in time.
You'll also learn how your interest rate and payments could change in the future, and whether you'll incur penalties for paying off the loan
early (
called «prepayment penalty») or increases to the
mortgage loan balance even if payments are made on time (known as «negative amortization»).
In the
early 1980's, a new loan product
called a reverse
mortgage was approved to be insured by the Federal Housing Administration (FHA).