This is critical information that all people selling their homes need to know.

If you sell your home, how much is your penalty to pay off your mortgage early, typically with the proceeds from the sale of your home?

Many mortgages, unless they are open mortgages, have a penalty; often 3-months-interest.

And they also have what's called a MORTGAGE DIFFERENTIAL, and the bank will make you pay whichever is higher.

In a nutshell, this is the difference between what the bank or financial institution will profit from your higher-interest mortgage and their profit on the current lower-interest mortgages available to buyers.

The difference can be a huge amount of money. Thousands to tens-of-thousands!

Early in the process of selling your home, find out for sure from your bank or financial institution and be clear.