This is part two of our blog on joint mortgages. After discussing the advantages and disadvantages of having a joint mortgage, we are going to address the different part of a mortgage as to how they look into a joint agreement and a non-joint agreement....
Many people do not seem to understand or even know what a prepayment penalty is, whether because it was not well explained or it was not even brought up. If you are not well informed about this aspect, it can be very costly to you...
How are prepayment privileges calculated? A mortgage prepayment privilege gives you the choice to increase your monthly mortgage payments before it is due and without a penalty. The extra amount is applied to the principal. If you are under this type of privilege, you can...