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Matt and Sarah

Getting out of Mortgage pre-payment pentalty

By Matt and Sarah in United Kingdom

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Matt and Sarah Explorer

Matt and Sarah   0

Posted
Filed: K-1 Visa Country: England
 Timeline
Posted

My fiance is all set to come to Texas from England on April 25th. We have a buyer for her house (assuming the chain doesn't fall through!) but there is a pre-payment penalty on her current mortage if you pay it off in less than 5 years (she's three years into it). Has anyone had to deal with this and is there any way out of that pre-payment penalty?

Thanks,

Matt

K-1 AOS

02/03/06: Met in Mexico!

04/25/08: Sarah entered US @ Dallas POE - NO PROBLEMS!

05/23/08: Applied for SS#

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07/11/08: Received NOA's - 4 letters - I-485 NOA, EAD NOA, AP NOA, Biometrics Appt. (12 days)

07/29/08: Biometrics Appt. 11am (30 days)

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08/04/08: Received Transfer Notice in mail from CSC (36 days)

09/03/08: Touched - Email - I-485 AOS Card Production Ordered (66 days)

09/04/08: Touched - Email - Notice mailed welcoming new permanent resident (67 days)

09/04/08: Received AP in the mail (67 days)

09/05/08: Touched - Email - EAD approved (68 days)

09/08/08: Received EAD in the mail (71 days)

09/09/08: Touched - Email - I-485 AOS Approval Notice Sent (72 days)

09/09/08: Received notice in the mail welcoming new permanent resident (72 days)

09/10/08: Received GREEN CARD in th email (73 days)

mustang-sally Collaborator

mustang-sally   8

Posted
Filed: K-1 Visa Country: United Kingdom
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Posted
My fiance is all set to come to Texas from England on April 25th. We have a buyer for her house (assuming the chain doesn't fall through!) but there is a pre-payment penalty on her current mortage if you pay it off in less than 5 years (she's three years into it). Has anyone had to deal with this and is there any way out of that pre-payment penalty?

Thanks,

Matt

I don't think there is any way out of it.

I sold my house in the same circumstances earlier this year, I think I ended up paying around £4,000 as an early settlement fee. It was less than 3 years for me too. Apparantly it was in the terms at the start of the mortgage and had to be paid, no getting out of it.

 

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Matt and Sarah Explorer

Matt and Sarah   0

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Filed: K-1 Visa Country: England
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Posted

Thanks. I've talked with a guy at my mom's real estate company who is from England, and he said there is a way out of it and he's trying to find out how...I'll post it if I get any answers.

K-1 AOS

02/03/06: Met in Mexico!

04/25/08: Sarah entered US @ Dallas POE - NO PROBLEMS!

05/23/08: Applied for SS#

05/23/08: Marriage License

05/30/08: Received SS card

06/07/08: Wedding

06/20/08: Applied for new SS# with married name

06/27/08: Received new SS card with married name

06/30/08: I-485 AOS packet sent to Chicago

07/01/08: I-485 AOS packet received by CHIBA/RECEPTION (1 day)

07/08/08: I-485 check cashed by USCIS (9 days)

07/11/08: Received NOA's - 4 letters - I-485 NOA, EAD NOA, AP NOA, Biometrics Appt. (12 days)

07/29/08: Biometrics Appt. 11am (30 days)

07/29/08: I-485 Application transferred to CSC (30 days)

08/04/08: Received Transfer Notice in mail from CSC (36 days)

09/03/08: Touched - Email - I-485 AOS Card Production Ordered (66 days)

09/04/08: Touched - Email - Notice mailed welcoming new permanent resident (67 days)

09/04/08: Received AP in the mail (67 days)

09/05/08: Touched - Email - EAD approved (68 days)

09/08/08: Received EAD in the mail (71 days)

09/09/08: Touched - Email - I-485 AOS Approval Notice Sent (72 days)

09/09/08: Received notice in the mail welcoming new permanent resident (72 days)

09/10/08: Received GREEN CARD in th email (73 days)

mustang-sally Collaborator

mustang-sally   8

Posted
Filed: K-1 Visa Country: United Kingdom
 Timeline
Posted
Thanks. I've talked with a guy at my mom's real estate company who is from England, and he said there is a way out of it and he's trying to find out how...I'll post it if I get any answers.

Will be interested to find out if you can, my lawyer told me there was no way of getting out of it. Too late for me now, it's all paid but will be interested if you get a result.

 

K1

02/09/2007 I-129F Petition received at Nebraska SC

09/11/2007 Medical scheduled at 10.30am

01/14/2008 Interview at 9.30am Approved

03/13/2008 POE

04/22/2008 Wedding

AOS

05/23/2008 Filed for AOS, EAD and AP.           

09/08/2008 EAD card received.                         

09/15/2008 AP received.                                    

11/25/2008 Card production ordered

Removal of Conditions

10/22/2010 Filed for Removal of Conditions

12/18/2010 Green Card received

 

Naturalization

11/21/2016 Mailed N400 Naturalization application

11/29/2016 Application received

12/02/2016 NOA1

12/30/2016 Biometrics

01/04/2017 In line for interview

02/09/2017 Received interview letter

03/16/2017 Interview in St Paul, Mn - PASSED!!

03/16/2017 Same day Oath Ceremony

 

Matt and Sarah Explorer

Matt and Sarah   0

Posted
Filed: K-1 Visa Country: England
 Timeline
  • Author
Posted

Yea I'm not expecting any miracles either since it is a contractual obligation, but I'll at least try....

K-1 AOS

02/03/06: Met in Mexico!

04/25/08: Sarah entered US @ Dallas POE - NO PROBLEMS!

05/23/08: Applied for SS#

05/23/08: Marriage License

05/30/08: Received SS card

06/07/08: Wedding

06/20/08: Applied for new SS# with married name

06/27/08: Received new SS card with married name

06/30/08: I-485 AOS packet sent to Chicago

07/01/08: I-485 AOS packet received by CHIBA/RECEPTION (1 day)

07/08/08: I-485 check cashed by USCIS (9 days)

07/11/08: Received NOA's - 4 letters - I-485 NOA, EAD NOA, AP NOA, Biometrics Appt. (12 days)

07/29/08: Biometrics Appt. 11am (30 days)

07/29/08: I-485 Application transferred to CSC (30 days)

08/04/08: Received Transfer Notice in mail from CSC (36 days)

09/03/08: Touched - Email - I-485 AOS Card Production Ordered (66 days)

09/04/08: Touched - Email - Notice mailed welcoming new permanent resident (67 days)

09/04/08: Received AP in the mail (67 days)

09/05/08: Touched - Email - EAD approved (68 days)

09/08/08: Received EAD in the mail (71 days)

09/09/08: Touched - Email - I-485 AOS Approval Notice Sent (72 days)

09/09/08: Received notice in the mail welcoming new permanent resident (72 days)

09/10/08: Received GREEN CARD in th email (73 days)

Lansbury Proficient

Lansbury   19

Posted
Filed: Citizen (apr) Country: England
 Timeline
Posted

Normally the early repayment penalty is because you got a cash back, or a reduced interest rate for a fixed period or some other monetary incentive when you took out the mortgage. The mortgage agreement will say what the penalty is and how it is calculated. The bank or building society can waive the penalty but it is very rare they do.

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