[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Bank or Mortgage Company Name] [Bank or Mortgage Company Address] [City, State, ZIP] Subject: Request for Payoff Balance of Mortgage Loan Dear Sir/Madam, I hope this letter finds you well. I am writing to request for the payoff balance of my mortgage loan, regarding my property located in [City], [State]. I am a homeowner and have been diligently making mortgage payments to your esteemed institution as per the mortgage agreement. Furthermore, I kindly request you to provide me with the current payoff balance information for my mortgage loan. This information is essential for me to plan accordingly for the complete repayment of the outstanding loan amount. Please include any applicable fees, interest, or penalties that may have accumulated since my last payment. Moreover, I would also appreciate receiving the exact methods and instructions for making the final payoff. If there are any specific forms or paperwork required from my end, kindly let me know, and I will promptly provide them. To facilitate the process, please send the payoff statement or an official letter stating the remaining balance to the address mentioned above or through email at [Your Email Address]. Alternatively, if there is a specific online portal or platform through which I can access this information securely, please provide the necessary instructions. Please note that as per my records, my mortgage loan details are as follows: — Name of Mortgagor: [Your Name— - Property Address: [Your Property Address] — Loan Account Number: [Your Loan Account Number] — Loan Start Date: [Loan Start Date— - Original Loan Amount: [Original Loan Amount] — Interest Rate: [Interest Rate— - Monthly Payment Amount: [Monthly Payment Amount] I understand that it may take some time for the requested information to be processed. However, I would greatly appreciate if you could expedite this request as much as possible to help me make a well-informed financial decision. Should you require any additional information or have any questions, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address]. Your prompt attention to this matter is highly appreciated. Thank you for your cooperation, and I look forward to receiving the requested information at your earliest convenience. Sincerely, [Your Name]
Georgia Sample Letter Requesting Payoff Balance of Mortgage
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How to fill out Georgia Sample Letter Requesting Payoff Balance Of Mortgage?
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FAQ
To get a payoff letter, ask your lender for an official payoff statement. Call or write to customer service or make the request online. While logged into your account, look for options to request or calculate a payoff amount, and provide details such as your desired payoff date.
If you want to pay off your loan balance in full, you should request a payoff statement from your loan servicer. As mentioned above, your monthly statement won't necessarily include all outstanding interest and fees if you pay off your remaining debt.
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.
Answer. You can't just pay the amount shown on your monthly mortgage statement to pay off the loan. That amount is your outstanding loan balance, not a payoff amount. You need an official payoff statement from the servicer to ensure you pay the correct amount.
Generally, you request it from your lender when you want to know the exact amount needed to pay off your home.
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.
The promissory note and the deed to secure debt will be cancelled on the day that you pay off your loan. Until then, those two documents spell out the rights and responsibilities that you owe to your lender, and that your lender owes to you.
Under federal law, the servicer must generally send you a payoff statement within seven business days of your request, subject to a few exceptions.
