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Tag Archives: Penalty

Court Refuses Mortgage Penalty

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Canada: Court Refuses To Enforce Mortgage Prepayment Penalty Many Canadian mortgages have a prepayment term that imposes a penalty if the mortgage advance is repaid by the borrower before the maturity date. The general purpose of such a term is to provide compensation to the lender for the unanticipated time required to find another borrower of [&hellip…

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