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cover the penalty amount or other costs charged by the existing lender?

April 26, 2017charged costs cover existing Lender penalty

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cover the penalty amount or other costs charged by the existing lender?

1 Answer

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Posted

There should not be any penalty involved with your existing lender if your mortgage is coming up for renewal. However, there may be a penalty if you are breaking a term with your existing lender. ING DIRECT will not cover the penalty, discharge fees etc., if any, charged by the existing lender but may allow you to add or roll-in these amounts into your mortgage. In addition, ING DIRECT will cover the legal and appraisal fees for assignable mortgages. For more information or to discuss your situation with a helpful mortgage specialist call1-866-700-4604.