Florida | Real Estate Law
1/06/02, 7:52 pm
Legal Question
Pre-Payment Penalty on Sold Mortgage
My original mortgage was sold. On my original paperwork, it said that a prepayment penalty may or may not be applied, and my original mortgage company did not apply one. However, when they sold my mortgage, the new mortgage company applied a three-year pre-payment penalty. The new company has told me that if I were to sell my property before the day that the penalty expires, even up until the day before, they will be able to charge me the full 3600 or so dollars - the amount of the penalty. What can I do?
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Read More Answered By: Randall Reder |
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