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1 Comments on"Prohibited Acts on Florida Mortgages"
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Jann says:
Hello, I have some concerns. Is there a cap on the amount of a pre-payment penalty? Can a mortgage lender prohibit you from selling your house within the first year? Can a mortgage lender dictate who you can and can not sell your house to during the first three years? My daughter lives in Tampa and is struggling with her interest only mortgage and the terms of her loan state that she is prohibited from selling to anyone known to her or to anyone that is involved professionally with real estate, such as investors, developers, contractors, carpenters,etc. She is single, attending college, and working as a server in a restaurant. She’s not going to make it because of this, what I deem to be a, “criminal mortgage lender” and we, her parents, are forbidden to help her, other than to sink our money into a monthly mortgage that will get her nowhere. She is young, naive, and they saw her coming.
Posted on 08/21/2007 at 10:40 AM