Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post

gildo · 10-22-2012, 10:32 PM

We were looking to sell our home then buy another, but we found a smokin' deal and went for it so essentially bought another home before selling our current home, our mortgage broker bent over backwards and got us approved to make this new purchase. He is a great guy, but he no longer deals with our current bank (we knew that going in) and if we don't port our mortgage the payout is $8000. All indications from our end have been we would use the broker and go with him. We eventually sold our house in a week and now with a month to go we have a decision to make, port our mortgage or go with the broker who deals with MPAC. I feel bad for turning on him after all he did but $8000 is a lot of money and we only have 2 years left until we have to re new.

So my question is....what should I do? And we filled out some initial paperwork with the broker...could he hold us to it and are we essentially stuck with him legally? Any tips and advice would be much appreciated, thanks.

10-22-2012, 10:32 PM	#1
gildo Crash and Bang Winger Join Date: Nov 2007 Exp:	Mortgage question is this unethical? We were looking to sell our home then buy another, but we found a smokin' deal and went for it so essentially bought another home before selling our current home, our mortgage broker bent over backwards and got us approved to make this new purchase. He is a great guy, but he no longer deals with our current bank (we knew that going in) and if we don't port our mortgage the payout is $8000. All indications from our end have been we would use the broker and go with him. We eventually sold our house in a week and now with a month to go we have a decision to make, port our mortgage or go with the broker who deals with MPAC. I feel bad for turning on him after all he did but $8000 is a lot of money and we only have 2 years left until we have to re new. So my question is....what should I do? And we filled out some initial paperwork with the broker...could he hold us to it and are we essentially stuck with him legally? Any tips and advice would be much appreciated, thanks.