Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 3 months ago

faster Mortgage payment Question?

if your 5 years mortgage term is ending in December, and 

$5000 is remaining amount to pay your home for full payment, (to own)you tops all the prepayments optionsyou didn't renew your mortgage, so can you pay remaining $5000 as a final one payment after the end of mortgage term to the bank? is there any penalty, or problem in this situation which I am not seeing it

5 Answers

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  • 3 months ago

    Call the mortgage company and ask the payoff amount.  Simple.

  • Maxi
    Lv 7
    3 months ago

    Depends on the terms of your mortgage, you need to read it and it will answer your question

  • Anonymous
    3 months ago

    unsure wtf you are talking about. Pay the $5000 and be done with it. There are no penalties unless you are late.

  • 3 months ago

    It depends on the mortgage agreement -- but usually it means that you have no mortgage by paying off the balance at the end of the five years.

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  • Anonymous
    3 months ago

    Your question drifted into babbling, so I can't figure out what you are asking.

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