- The Globe & Mail ran this great story about the benefits and costs of renewing your mortgage. As you may know, banks typically ding you with $150-$300 discharge fees at the end of your mortgage. The Globe says: "Never pay these fees or discharge expenses without politely but forcefully asking for them to be waived or drastically reduced…and…Don’t wait for your bank to mail you a mortgage renewal notice to start thinking about switching lenders."
- The Canadian Capitalist found a good review of the pros and cons of paying down your mortgage versus investing in your RRSP–written by Canadian Dream: Free at 45
- Million Dollar Journey writes about a new high-leverage twist to the Smith Maneuver
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Last modified: April 17, 2007
Just to clarify, most lenders (not just banks) levy discharge fees. It’s their “friendly” little way of encouraging you to stay with them.
Melanie