| Thursday, February 4, 2010 Before you Sell Your Homeby Mamie Lambert on Thu, Feb, 4, 2010 02:47 PM Before you sell your home, you might want to talk to your mortgage lender about Payout Penalties. Some pay out penalties can be quite large and unexpected. I always suggest that my clients contact their lender to ask what their payout penalty will be before they make a decision to sell. A large payout penalty can potentially eat up any profits that might be made in a sale, and when unexpected, it can lead to a "short sale" whereby there are not enough funds to close the deal upon possession.
Talk to your lender to esnure that selling your home is a finacially sound decision for you.
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