Quote:
Originally Posted by fotze
I am trying to make the numbers work, my penalty for gettting out of my current 5.09% is $5500 which eats up any savings I may have plus its today dollars while the savings are tomorrow dollars. I guess that's the reason for the penalty.
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Careful....lots of the penalites I've seen lately are calculated on Interest Rate Differential and not the 3 months interest. I've seen potential penalties as high as $40k, which might make it futile.