Prepayment penalty scam … and we bailed out these ****ers?

[Coronita]

So many people aren’t going to get scammed because so many people aren’t going to be able to pay 20%+ of their loan amount within 3 years most likely and highly unlikely will be able to refinance, making this a moot point. Sure if you find another bank with an equal or lower rate, than I would say this is an issue. But if this bank is offering the best rate you can find, I’d say it’s a moot point. If it principle really matters, and this big bank is a lowest rate, then get the other loan out of principle…

Since when do you really see anything in America truthfully represented without reading the fine print? If there’s any doubt, just turn on late night tv and watch all the infomercials. Buyer beware…No difference from what we have before.

[Coronita]

[quote=AK]Yeah, I might need to refinance, as unlikely as that might seem. Or I might need to sell. Ya never know.

Plus it’s a matter of principle. “No prepayment penalty” should mean “no prepayment penalty” and not “Oh gosh, you wanted to prepay that much? Well that’s different!”

[/quote]

with all due respect… If you think you might need to sell in that timeframe, you probably should reconsider about buying. And it’s very unlikely you will be refinancing to a lower rate within 3 years.

[Coronita]

[quote=AK]Yeah, I might need to refinance, as unlikely as that might seem. Or I might need to sell. Ya never know.

Plus it’s a matter of principle. “No prepayment penalty” should mean “no prepayment penalty” and not “Oh gosh, you wanted to prepay that much? Well that’s different!”

[/quote]

with all due respect… If you think you might need to sell in that timeframe, you probably should reconsider about buying. And it’s very unlikely you will be refinancing to a lower rate within 3 years.

[Coronita]

[quote=AK]Yeah, I might need to refinance, as unlikely as that might seem. Or I might need to sell. Ya never know.

Plus it’s a matter of principle. “No prepayment penalty” should mean “no prepayment penalty” and not “Oh gosh, you wanted to prepay that much? Well that’s different!”

[/quote]

with all due respect… If you think you might need to sell in that timeframe, you probably should reconsider about buying. And it’s very unlikely you will be refinancing to a lower rate within 3 years.

[Coronita]

[quote=AK]Yeah, I might need to refinance, as unlikely as that might seem. Or I might need to sell. Ya never know.

Plus it’s a matter of principle. “No prepayment penalty” should mean “no prepayment penalty” and not “Oh gosh, you wanted to prepay that much? Well that’s different!”

[/quote]

with all due respect… If you think you might need to sell in that timeframe, you probably should reconsider about buying. And it’s very unlikely you will be refinancing to a lower rate within 3 years.

[Coronita]

[quote=AK]Yeah, I might need to refinance, as unlikely as that might seem. Or I might need to sell. Ya never know.

Plus it’s a matter of principle. “No prepayment penalty” should mean “no prepayment penalty” and not “Oh gosh, you wanted to prepay that much? Well that’s different!”

[/quote]

with all due respect… If you think you might need to sell in that timeframe, you probably should reconsider about buying. And it’s very unlikely you will be refinancing to a lower rate within 3 years.

[AK]

[quote=flu]
with all due respect… If you think you might need to sell in that timeframe, you probably should reconsider about buying. And it’s very unlikely you will be refinancing to a lower rate within 3 years. [/quote]

That’s the thing about unexpected situations … you can’t plan for them, but you can prepare for them.

[AK]

[quote=flu]
with all due respect… If you think you might need to sell in that timeframe, you probably should reconsider about buying. And it’s very unlikely you will be refinancing to a lower rate within 3 years. [/quote]

That’s the thing about unexpected situations … you can’t plan for them, but you can prepare for them.

[AK]

[quote=flu]
with all due respect… If you think you might need to sell in that timeframe, you probably should reconsider about buying. And it’s very unlikely you will be refinancing to a lower rate within 3 years. [/quote]

That’s the thing about unexpected situations … you can’t plan for them, but you can prepare for them.

[AK]

[quote=flu]
with all due respect… If you think you might need to sell in that timeframe, you probably should reconsider about buying. And it’s very unlikely you will be refinancing to a lower rate within 3 years. [/quote]

That’s the thing about unexpected situations … you can’t plan for them, but you can prepare for them.

[AK]

[quote=flu]
with all due respect… If you think you might need to sell in that timeframe, you probably should reconsider about buying. And it’s very unlikely you will be refinancing to a lower rate within 3 years. [/quote]

That’s the thing about unexpected situations … you can’t plan for them, but you can prepare for them.

[(former)FormerSanDiegan]

A prepayment penalty essentially prevents someone from refinancing during the penalty period. It’s not really a moot point for those whose loans were going to reset and who could have locked into a low fixed rate.

[(former)FormerSanDiegan]

A prepayment penalty essentially prevents someone from refinancing during the penalty period. It’s not really a moot point for those whose loans were going to reset and who could have locked into a low fixed rate.

[(former)FormerSanDiegan]

A prepayment penalty essentially prevents someone from refinancing during the penalty period. It’s not really a moot point for those whose loans were going to reset and who could have locked into a low fixed rate.

[(former)FormerSanDiegan]

A prepayment penalty essentially prevents someone from refinancing during the penalty period. It’s not really a moot point for those whose loans were going to reset and who could have locked into a low fixed rate.

[Author]

Posts