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Older parents miss mortgage renewal, bank locks in fixed closed rate at 8.2% interest for a year.
Older parents miss mortgage renewal, bank locks in fixed closed rate at 8.2% interest for a year. Hey guys. Title really sums it up: my parents missed their mortgage renewal with BMO and when they finally went to renew it they were informed because they missed it they were automatically locked in at a fixed closed rate at an obscene interest rate for a year, causing their mortgage payment to essentially double what it used to be. If they wan...
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