- Reaction score
- 10,173
- Points
- 1,260
Question for anyone in the know,
I read on the CF IRP site that:
DCBA has determined that, CF members need to be reminded that they are responsible to negotiate the terms of their mortgage to coincide with the relocation benefits contained in the CFIRP. Usually the financial institutions will charge the greater of
Mortgage Interest Differential or
3 months interest.
However, the CF will only reimburse; a maximum of 3 months interest as a core benefit and 3 months interest as a custom benefit.
So if someone must break contract and gets charged with the Mortgage Interest Differential, will the IRP cover the costs that the 3 months interest would have been (with the member covering the remainder) or is the member on the hook for everything for a Mortgage Interest Differential?
I read on the CF IRP site that:
DCBA has determined that, CF members need to be reminded that they are responsible to negotiate the terms of their mortgage to coincide with the relocation benefits contained in the CFIRP. Usually the financial institutions will charge the greater of
Mortgage Interest Differential or
3 months interest.
However, the CF will only reimburse; a maximum of 3 months interest as a core benefit and 3 months interest as a custom benefit.
So if someone must break contract and gets charged with the Mortgage Interest Differential, will the IRP cover the costs that the 3 months interest would have been (with the member covering the remainder) or is the member on the hook for everything for a Mortgage Interest Differential?