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  1. #1
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    Is it worth it to break my mortgage contract early?

    My son David has completed the Masters in Engineering from the University of Toronto. Now he is planning to start a boutique at Avenue Road. It requires a relatively large upfront investment, but it can become highly profitable over time. Since he cannot raise such a huge fund quickly, I 've decided to apply for a mortgage. We have a vacant building near our home. This location is very close to related businesses. This will maximize the number of potential customers that will pass by and notice our shop.

    Which one should I focus on while applying for the loan? A home equity loan or a personal loan? How to choose the right fit for me? Is it worth it to break my mortgage contract early? Should we pay mortgage penalties if we break the mortgage contract before it is up? Please give your suggestions ASAP!!!

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  3. #2
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    To make such a decision, you must carefully study the contract that you signed and understand whether it will be beneficial for you or not.

  4. #3
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    You must carefully study the mortage contract that you signed and understand whether it will be beneficial for you or not.

  5. #4
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    When a mortgage agreement is broken, the interests of the borrower and the lender collide. Losses on one side automatically turn into profits on the other. Therefore, the parties to the transaction do not always find a common language, and the question goes to the courts.

  6. #5
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    Banks do not like to terminate mortgage agreements. Therefore, they quite often try to offer alternative options or additions to several clauses of the contract

  7. #6
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    you should always follow the terms of the contract that you have concluded, or it will only get worse, so you better think

  8. #7
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    In such cases, one must really study everything very carefully and understand how profitable it will be and whether it will have any consequences.

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