By now you may have heard about the class action lawsuit just launched against CIBC and others.

I blogged about it Here.

Why is this important to you?

You like me, know that a lower rate means lower monthly payments and overall savings.

You may have also heard that we’re currently experiencing historically LOW rates.

We’ve managed to negotiate some of these historically low rates for our clients, rates we’ve NEVER seen before.

That being said, this usually includes a penalty for breaking a mortgage during the term. Some penalties can be quite substantial. The issue at hand in the class action suit is the ability to exercise your prepayment option prior to establishing your penalty.

The penalty should be calculated on your mortgage balance less your allowed pre-payment.

However, most banks do not calculate it like that, hence the lawsuit.

You may be surprised to know, even with a large penalty, breaking your mortgage for a LOWER rate may save you thousands.

We’re lowering our clients monthly payments and saving them thousands.

We’ve even managed to pay off other high interest rate credit card debt, saving our clients ever more on their monthly cash flow.

Go ahead and click here to see how much you can save

PS – One thing I’ve learned is that these type of events are generally accompanied by a very short window of opportunity..

Don’t miss this opportunity Click here

Mark Fidgett, Your Vancouver Mortgage Broker For Life

www.notapennydown.com

604-273-2002

P.S. Who’s the next person you know who wants to save thousands off their mortgage?
Be sure to give me a call so we can help them!