Open Question: How do I get out of this mortgage? (Ontario,Canada)?

[Administrator]

We gave verbal instruction upon receiving a letter last spring stating that our mortgage would be rolled over into a 6 month closed term. I called and told them no, that we wanted it open because we might sell, refinance or what ever, and they said that's ok they would make it open.So now, we've had our offer to purchase accepted at a new home and arranged for refinancing with another company on the current one to borrow against it and are moving out and have tenants moving in Oct. 1. I just got a call from our mortgage specialist (not the original company from 7 years - but the new one), that the old company won't let us pay it out because it is fixed closed and because we aren't selling the old home. They say we have to wait until Nov. 21 - 1 month and 20 days after our closing - to make these changes.What the heck? I've been trying to communicate with the mortgage company but am on the "call-back" list because the front line people have no power to do anything. I want to move the renewal date up to this week and pay it out, even if - and there are - penalties.I've never heard of this? Have you? Anyone have experience with this and what did you do to get out of it?

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