Let's say you have a year mortgage and you make extra payments to pay it of within 8, 16, or 20 years, whatever, as long as it's early. What are/aren't there penalties? DO you also get penalized for making extra payments? (Ex: paying $1,500 per month when only $1,200 is due). I just want to know how and when penalties occur. Thanks.
Read more: Are there always penalties with paying off a mortgage early? Or Paying extra?
