prepayment penalty

03-17-2002, 03:32 PM

kuryusone

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prepayment penalty

PA. clause
I have 11 months more of payments to get past the penalty date. the clause states in part - you agree to pay a prepayment penalty eqqual to not more than 6 months advanc daily interest on the unpaid balance as of the pay off date. So if I pay all but the 11 payments first and then after a month pay off the rest will I only be liable for a penalty for the interest of the 10 months pay off? Could my new mortgage company do something like that?

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