Definition: Anything that may surprise you that you don’t find out about until it’s too late
Options: You can avoid any surprises by working with me and I’ll walk you thru the good, bad and ugly of all the mortgage options and terms already discussed today. Here are some hidden surprises that many clients are not aware of:
- Fees involved for extra statements being created, NSF fees, etc.
- You can’t repay the mortgage back unless you sell your home
- You can’t port your mortgage or have it assumed
- The penalty to break is tens of thousands of dollars
- You can’t refinance at all until after the term is up
- You can’t skip a payment
- The lenders customer service doesn’t meet basic standards
- The lender doesn’t automatically offer you a renewal (due to default)
