Continued.... How do you find out what your payout penalty is? You can call your bank, give them your mortgage number and/or details & request payout penalty information. Your Realtor could request a mortgage verification form from you so they can find send to the bank to discover your mortgage details. You may allow your mortgage to be assumed, especially in today's economic climate as buyers have to fully qualify for your mortgage. Sellers are no longer responsible for that mortgage--the mortgage & title will transfer to the buyer. It could save the sellers the payout options as well as provide a great rate for the buyers. With list prices coming slightly down, the mortgages can be close to the full amount of the list price. Bottom Line: KNOW YOUR PAYOUT PENALTY before you list your home!
posted in Listings
at Sat, 28 Feb 2009 06:15:09 +0000