Does it Make Sense to Switch Mortgage Providers? When it is time for your renewal term with your mortgage lender, you have an important decision to make. You may want to switch providers or stay with your current lender, depending on what is being offered. However, staying with your current provider might not be the right option for you. There are two primary reasons when it makes sense to switch to a new provider. Reason #1 First of all, you may be looking for different terms and conditions. If another lender is offering you better terms and conditions, you may wish ...
Read more
How to Prepare for the Mortgage Renewal Process At the conclusion of your mortgage term, if you still owe a balance on that property, you will need to renew the mortgage for another term. This is also an opportunity to evaluate your current mortgage and compare it with any financial goals you may have recently set. Your current mortgage provider will notify you of the upcoming renewal in the mail with a slip that you can sign back, but if you want to be sure that all of your needs are properly met, you need to take a proactive approach ...
Read more
ruly the riHow to Know if Early Mortgage Renewal is Right for You If there is still an outstanding balance on your mortgage at the conclusion of your mortgage term, you will be responsible for renewing for another term. Your lender is responsible for notifying you 21 days before your term is up, but the majority of lenders will allow you to renew anytime within the final four months of your current mortgage term without paying the penalty for breaking your term early. During this four-month period, lenders will contact you with an early renewal offer. This will usually outline ...
Read more