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4. > Renegotiating Your Mortgage Agreement

Renegotiating Your Mortgage Agreement

You might think about changing your mortgage contract before the term ends, either because your financial situation has changed or to take advantage of changes in the interest rates. This is called renegotiating your mortgage.

If you break your mortgage contract before the end of the term you agreed to, you may be charged a penalty that could be thousands of dollars. Knowing what questions to ask can help you decide if breaking your mortgage agreement makes sense.

All about renegotiating your mortgage

• Breaking your mortgage agreement
  look at issues to consider before deciding to break your mortgage agreement.
• Penalty charges
  see an example of the penalty charge and tips to help you reduce the cost.
• Weighing the benefits and risks
  know the pros and cons before making a decision

Related Resources

Date Modified:

2012-07-17