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Ralph Mowery[_3_]

In article ,
says...

Is that how it works in Canada? Not here in the US. I've never seen a mortgage
with a pre-payment penalty at all and I would bet that it's probably illegal in many
states. I've refinanced many times with no penalty. The only costs are whatever
it takes to get the new mortgage, eg application fee, appraisal fee, misc fee, etc.

Often times even the new fees will be waved if asked. I wanted a home
equaety loan from the place I had a morgage on the house. To start with
the bank wanted a fee. I told them as I already had the house financed
with them and had not missed a payment in over 15 years I could not see
any of those fees, and if so I would check with another bank. They
waved the fees.