I Paid off My Mortgage but Was Charged a High Prepayment Penalty. What Can I Do?

Your loan agreement is the contract between you and your bank, and the loan agreement will specify whether or not there is a prepayment penalty for paying off your loan earlier. You should review your loan agreement to determine what it says about prepayment penalties.

Kristal M. Cowger,  Attorney at Law

Blado Kiger Bolan, Tacoma, Wash.

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