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Making the right financing decisions about both your current home and your new home can assuredly save you money. Of course, the wrong choices may end up costing you a bundle!
Start by asking the right questions:
- what happens to my current mortgage now that I've sold?
- what are my options and how can I avoid unnecessary penalties?
- how can I use extra financing to add value to my home?
Assumability and portability offer you maximum flexibility and are valuable features for any mortgage. Check your current mortgage and, if you don't have this flexibility, shop around at mortgage renewal time!
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