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When Porting a Mortgage Goes Wrong
Your mortgage is portable, right? Almost all mainstream lenders claim their mortgages are portable. But portability clauses have more caveats than a prenuptial agreement—so many that people hoping to port are routinely disappointed. Back in 2011, about 3 out of 8 home sellers used to port their mortgage. But the percentage who port has been steadily sinking since then. We’d...