Comments on: How to Save Money When Refinancing A Home Mortgage

By: Lisa Collins

Lisa Collins — Sun, 24 May 2009 02:23:52 +0000

Great advice! Always ask your bank what your cheapest option would be. We all need to be watching where out money goes in slower economic times as well as when the economy is healthy.

By: The Canadian Finance Blog

The Canadian Finance Blog — Mon, 18 May 2009 11:06:18 +0000

Friday Links…

Moolanomy has a massive list of 1,001 money saving tips and ideas.
Squawkfox shows us that you can child proof your electrical outlets to cut energy costs.
The Financial Blogger looks at the old adage, sell in may and go away.
Four Pillars points out …

By: as

as — Sun, 17 May 2009 19:53:40 +0000

If you have good relations with an experienced/willing account manager at the bank you may convince them to pay less than the prescribed penalty. Especially if you transfer an account from another bank / sign up for another product from them / etc. Also, I know of at least one case in which some of the penalty money was refunded when the client took a new mortgage with the same bank a short time afterwards (which may apply to anyone currently house hunting?!).

I also always took advantage of those 1.99% (or so) cheques your credit card company may offer you from time to time (ensuring, of course, that I charged no purchases to it during the loan, and skipping those new-card offers that charge a loan fee for their ‘generous’ promotion), and prepaid / doubled up the regular payments as much as I could.

By: A Week in Review: Edition #11 | My Findependence Day

A Week in Review: Edition #11 | My Findependence Day — Sat, 16 May 2009 19:54:01 +0000

[...] – Four Pillars talks about saving money when breaking a [...]

By: DAvid

DAvid — Fri, 15 May 2009 14:30:38 +0000

Interestingly, when we paid our mortgage off early, our bank automatically applied a double-up, and the maximum prepayment before calculating the penalty. WITHOUT being asked.

DAvid

By: This and That: The Age of Frugality | Income Trust | Personal Finance | Real Estate SEO

Fri, 15 May 2009 12:22:33 +0000

[...] Check out this Four Pillars post on how to save money when breaking a mortgage. [...]

By: A Lap Of The Blogs : WhereDoesAllMyMoneyGo.com

A Lap Of The Blogs : WhereDoesAllMyMoneyGo.com — Fri, 15 May 2009 04:27:49 +0000

[...] Pillars explains that breaking a mortgage has penalties and provides some tips on reducing said penalties. You like tips? Don’t eat yellow [...]

By: Tips about save money - How to Save Money When Breaking a Mortgage

Tips about save money - How to Save Money When Breaking a Mortgage — Tue, 12 May 2009 18:56:05 +0000

[...] The rest is here:� How to Save Money When Breaking a Mortgage [...]

By: MM

MM — Tue, 12 May 2009 14:01:08 +0000

Good idea! Although I just sold my place two weeks ago and was dinged huge with the Interest rate differential. I’m not buying again either so I can’t recoup the cost. But the difference between 3-month penalty and IRD was $4k!

By: Million Dollar Journey

Million Dollar Journey — Tue, 12 May 2009 12:24:19 +0000

Thanks for the mention and great tip!