Mortgage Payoff Request Letter With Numerous Questions In Cook
Description
Form popularity
FAQ
When should I get my mortgage payoff statement? Request your mortgage payoff statement when planning to prepay your mortgage, refinance, or consolidate debt.
Tips for writing a letter of explanation Provide all details the best you can, including correct dates and dollar amounts. Explain how and when all situations were resolved. If they are not resolved, explain that as well. Detail why problems won't happen again.
First, you'll need to contact your lender and let them know you want the information. Depending on your lender, you may have to sign in to an online account, call a helpline, or send a formal letter to start the request process.
How to Write a Letter of Explanation Your name, address, and phone number. Lender name, address, and phone number. Mortgage application number. Your concise explanation and any documents supporting it (medical records, etc.) Your signature and the date.
Answer the lender's request point by point, as specifically, and with as much detail, as possible. Be precise with dates and dollar amounts. Acknowledge the lender's concern, and and if necessary, explain how you've resolved (or are in the process of resolving) the issue to prevent a future occurrence.
Under federal law, the servicer must generally send you a payoff statement within seven business days of your request, subject to a few exceptions. (12 C.F.R. § 1026.36.)
