Be wary of prepayment penalties (Everett Herald)
Story date: 2007-09-23 12:22:27
Added on: 2007-09-23 18:00:09
Question: I made a huge mistake recently when refinancing my house. I did a first mortgage that is interest-only for 10 years with a three-year prepayment penalty of six months of interest unless we sell after one year, then no prepayment penalty.
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