Quote:
Originally Posted by Mortgage Made Easy
This a a great point. This is easy to explain... unfortunately while the switch is to a new lender is at no cost! The existing lender is adding a... What I call a Thank you Fee!
Lenders will charge anywhere from $75 to $350 for discharging your mortgage from them. This can be called an admin fee, reinvestment fee, etc. In Alberta they cannot charge Discharge fees so they name it something else.
|
Sounds like a class action just waiting to happen.