Mortgage mogul warns new homeowners about hidden penalties
Marcus Arkan, CTO of leading Canadian mortgage firm Syndicate Mortgages cautions new home buyers against purchasing new real estate without taking potential penalties into account. According to a recent
post by Mr. Arkan, there are certain types of closing costs that are associated with prepaid mortgages.
When asked why future homeowners might need to be aware of the potential penalties, the CTO had this to say, `Most families would rather get their payments off their hands as fast as they can. Unfortunately, what most of them do not realize is that the down payment and monthly payments are not the only aspects that they will have to deal with down the road. Budgeting for a mortgage is a good idea but it does come with its fair share of traps. If it was easy, wouldn`t everyone else be doing it?`
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