Clear, straightforward guidance to help you understand the mortgage process, make confident decisions, and move forward with a plan that fits your life.
he part nobody mentions: penalties
Cash-back offers often come from big banks, and big bank penalties for breaking a fixed mortgage early (the interest rate differential, or IRD) can sting. Life happens: moves, separations, refinances. Some lenders will also want part of that cash back returned if you break early. A $2,000 rebate disappears fast next to a five-figure penalty.
If you’re between 55 and 70, own your home, and have been told “no” by the bank, or “not enough” by a reverse mortgage, there’s a brand-new product coming that’s worth knowing about.
