If your goal is to pay down your mortgage faster, or if you are thinking of breaking your mortgage early by selling your property, you'll want to know the details in your prepayment clause. This might be a paragraph of text in your mortgage agreement, or it could be abbreviated as a pair of numbers (10/20 or 20/20). Either way, it tells you how much extra you can pay on your mortgage without incurring penalties. Additional payments go directly to your principal mortgage amount, so they decrease the amount of time you will have your mortgage (the amortization) as well as saving you interest payments over time.
Feb 15 2022
Jun 10 2020
A friendly reminder from your Auxilium Mortgage Team as property tax time approaches!
Aug 08 2018
What happens when you separate from your partner, but you remain on good terms with each other? For Cecelia and Howard, the answer was building a solid investment together.