With the spring home buying season in full swing, aspiring and existing home owners would be wise to research the cost of breaking their mortgage. Depending on the type of mortgage you have, penalties might be zero, three months’ interest, or something known as the interest rate differential amount.

To see the interesting and easy to understand video by Preet Banejee click on this link:  http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/drawing-conclusions-the-cost-of-breaking-a-mortgage-can-vary-wildly/article24030002/

Source:  Preet Banerjee  – Special to The Globe and Mail – Published Monday, Apr. 20 2015, 2:21 PM EDT – Last updated Tuesday, Apr. 21 2015, 1:57 PM EDT