Maine Sample Letter Requesting Payoff Balance of Mortgage

State:
Multi-State
Control #:
US-0703LR
Format:
Word; 
Rich Text
Instant download

Description

This form is a sample letter in Word format covering the subject matter of the title of the form.
Subject: Request for Payoff Balance of Mortgage — Maine Property [Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Loan Service's Name] [Loan Service's Address] [City, State, ZIP Code] Subject: Request for Payoff Balance of Mortgage for Property Located in Maine Dear [Loan Service's Name], I hope this letter finds you well. I am writing to request the payoff balance of my mortgage for the property located in the beautiful state of Maine. I am diligently working towards fully satisfying my mortgage obligations and would appreciate your assistance in providing me with the exact amount needed to pay off the remaining balance. Property Information: — Property Address: [Your Property Address] — Loan Account Number: [Your Loan Account Number] I kindly request that you provide me with a detailed breakdown of the payoff balance, including any outstanding principal, accrued interest, and potential fees or penalties that may apply upon full loan repayment. Additionally, it would be helpful if you could provide an estimated expiration date for the requested payoff balance to ensure timely submission of the payment. Please send this information to me via email at [Your Email Address]. Should you require any additional information to process this request, do not hesitate to reach out to me at [Your Phone Number]. I aim to complete this transaction as smoothly as possible, understanding the importance of timely communication in such matters. Additionally, if there are any specific forms or procedures that need to be followed to effectuate this payoff request, please include them with your response. I will make sure to promptly submit any required documentation to facilitate the process. I would like to express my appreciation for your prompt attention to this request. Furthermore, I hope to receive all the necessary information within [Specify a Reasonable Timeframe, e.g., two weeks] to allow for proper planning and organization of funds. If there are any potential delays or issues in providing the requested information, please notify me promptly so that we can address them together. Thank you in advance for your cooperation and support. I look forward to your prompt response and finalizing this important step in my homeownership journey. Sincerely, [Your Name]

Subject: Request for Payoff Balance of Mortgage — Maine Property [Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Loan Service's Name] [Loan Service's Address] [City, State, ZIP Code] Subject: Request for Payoff Balance of Mortgage for Property Located in Maine Dear [Loan Service's Name], I hope this letter finds you well. I am writing to request the payoff balance of my mortgage for the property located in the beautiful state of Maine. I am diligently working towards fully satisfying my mortgage obligations and would appreciate your assistance in providing me with the exact amount needed to pay off the remaining balance. Property Information: — Property Address: [Your Property Address] — Loan Account Number: [Your Loan Account Number] I kindly request that you provide me with a detailed breakdown of the payoff balance, including any outstanding principal, accrued interest, and potential fees or penalties that may apply upon full loan repayment. Additionally, it would be helpful if you could provide an estimated expiration date for the requested payoff balance to ensure timely submission of the payment. Please send this information to me via email at [Your Email Address]. Should you require any additional information to process this request, do not hesitate to reach out to me at [Your Phone Number]. I aim to complete this transaction as smoothly as possible, understanding the importance of timely communication in such matters. Additionally, if there are any specific forms or procedures that need to be followed to effectuate this payoff request, please include them with your response. I will make sure to promptly submit any required documentation to facilitate the process. I would like to express my appreciation for your prompt attention to this request. Furthermore, I hope to receive all the necessary information within [Specify a Reasonable Timeframe, e.g., two weeks] to allow for proper planning and organization of funds. If there are any potential delays or issues in providing the requested information, please notify me promptly so that we can address them together. Thank you in advance for your cooperation and support. I look forward to your prompt response and finalizing this important step in my homeownership journey. Sincerely, [Your Name]

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FAQ

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.

The current principal balance is the amount still owed on the original amount financed without any interest or finance charges that are due. A payoff quote is the total amount owed to pay off the loan including any and all interest and/or finance charges.

Under federal law, the servicer must generally send you a payoff statement within seven business days of your request, subject to a few exceptions.

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.

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.

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.

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.

More info

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Maine Sample Letter Requesting Payoff Balance of Mortgage