TITLE

How a penalty clause can pay off

AUTHOR(S)
Hannon, Kerry
PUB. DATE
January 1994
SOURCE
U.S. News & World Report;1/31/94, Vol. 116 Issue 4, p65
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
Discusses how borrowers who pledge not to refinance a mortgage for a set period, generally from two to five years, can often get a lower percentage rate on their loans. Examples of savings; Prepayment penalties; States that ban penalties; Why return of prepayment clauses could actually be a boon for consumers.
ACCESSION #
9401277516

 

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