Subject: Request for Payoff Balance of Mortgage — Florida Property Dear [Lender's Name], I am writing to formally request the payoff balance of my mortgage on the property located at [property address] in Florida. As a valued customer, I appreciate your prompt attention to this matter. [Include your name], the homeowner and borrower, wishes to gain a comprehensive understanding of the remaining balance required to pay off the mortgage in full. This information is crucial for financial planning and potential refinancing decisions. Kindly provide the following details: 1. Principal Balance: Please specify the outstanding principal balance as of [date] to accurately determine the remaining loan balance. 2. Interest Accrued: Kindly include a breakdown of the accrued interest up to the present date to enable me to evaluate the amount needed for complete repayment. 3. Accurate Payoff Date: Provide a precise maturity date corresponding to the payoff balance determined to ensure a comprehensive understanding of the loan's duration. 4. Calculated Payoff Amount: Please specify the total owed, including any applicable fees, such as prepayment penalties or other charges associated with the mortgage loan. 5. Preferred Payment Method: Specify the accepted methods for making the payoff, such as certified check, wiring instructions, or any other method that complies with your institution's guidelines. As this is a crucial financial matter for me, I kindly request that you provide the requested information within [give a reasonable timeframe] to allow ample time for further decision-making. Please forward the requested details via mail to the following address: [Provide your complete mailing address], or alternatively, you may send the information via email at [provide your email address]. Kindly include your contact information for any potential clarifications or follow-ups. Thank you for your attention to this matter. I appreciate your assistance in promptly providing the information requested so that I may effectively fulfill my financial obligations. Yours sincerely, [Your Name] [Your Contact Information]
Florida Sample Letter Requesting Payoff Balance of Mortgage
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How to fill out Florida Sample Letter Requesting Payoff Balance Of Mortgage?
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FAQ
There's a process to getting the mortgage payoff statement. 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.
Hear this out loud PauseEssentially, a loan payoff letter is a representation by the existing lender regarding the outstanding amounts owed on the loan, including principal, interest, fees and other charges required to pay the loan in full and release any collateral.
Typically, a 10-day payoff letter includes: The 10-day payoff date and payoff quote for your loan. Your loan account number(s) Individual loans and their payoff amounts (if you're refinancing multiple loans) Instructions on how to pay off your current loan servicer.
Include all relevant information in the payoff letter, including: Include the name of the loan or mortgage holder. Include the loan or mortgage number. Include the payment amount. Include the date you plan to make the payment. Include your name and address. Include your contact information.
Hear this out loud PauseA payoff quote shows the remaining balance on your mortgage loan, which includes your outstanding principal balance, accrued interest, late charges/fees and any other amounts. You'll need to request your free payoff quote as you think about paying off your mortgage.
Hear this out loud PauseLenders can also send you a payoff letter after you have finished paying off a loan. This letter serves as confirmation that your loan has been repaid in full, and your account has been closed. It's most often requested so that customers can prove to other lenders that they have no other outstanding debts.
Under federal law, the servicer must generally send you a payoff statement within seven business days of your request, subject to a few exceptions.
One form tells borrowers the remaining principal amount and interest they have to pay to close out the loan. This formal letter also includes other key information, such as where to send the money, what payoff forms are acceptable, and how long the payoff estimate is good for (given interest costs).
