Pennsylvania 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.
[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Title] [Mortgage Lender's Name] [Address] [City, State, ZIP] Subject: Request for Payoff Balance of Mortgage Dear [Recipient's Name], I hope this letter finds you well. I am writing to request the current payoff balance on my mortgage account with [Mortgage Lender's Name]. As a resident of Pennsylvania, I kindly seek your assistance in providing me with this crucial information. I am fully aware that the payoff balance represents the amount required to satisfy my mortgage loan in its entirety. Obtaining this information is essential for the effective planning and management of my personal finances. Therefore, I kindly request you to furnish me with the following details: 1. Loan Account Information: — Account Holder's Name: [Your Full Name] — Loan Account Number: [Your Loan Account Number] — Property Address: [Full Property Address] 2. Balance Information: — Principal Balance: [Current Principal Balance] — Interest Accrued: [Accrued Interest Amount] — Escrow Balance: [Current Escrow Balance] — Total Payoff Balance: [Principal Balance + Accrued Interest + Escrow Balance] I kindly request that you provide this information to me within 10 business days from receiving this letter. Ensure that the provided details include any potential fees or charges that may be associated with obtaining the payoff balance. Due to the time-sensitive nature of my inquiry, I would appreciate if you could expedite my request and provide the information electronically via email ([Your Email Address]) or fax ([Your Fax Number]), whichever is more convenient for your institution. Additionally, please let me know if there are any specific forms or procedures I need to follow in order to receive this information promptly. I am deeply thankful for your attention to this matter and for facilitating my request promptly. If you have any questions or require any additional documentation to process this request, please do not hesitate to contact me at [Your Phone Number] or via email. I eagerly await your prompt response. Thank you for your time and cooperation. Sincerely, [Your Full Name]

[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Title] [Mortgage Lender's Name] [Address] [City, State, ZIP] Subject: Request for Payoff Balance of Mortgage Dear [Recipient's Name], I hope this letter finds you well. I am writing to request the current payoff balance on my mortgage account with [Mortgage Lender's Name]. As a resident of Pennsylvania, I kindly seek your assistance in providing me with this crucial information. I am fully aware that the payoff balance represents the amount required to satisfy my mortgage loan in its entirety. Obtaining this information is essential for the effective planning and management of my personal finances. Therefore, I kindly request you to furnish me with the following details: 1. Loan Account Information: — Account Holder's Name: [Your Full Name] — Loan Account Number: [Your Loan Account Number] — Property Address: [Full Property Address] 2. Balance Information: — Principal Balance: [Current Principal Balance] — Interest Accrued: [Accrued Interest Amount] — Escrow Balance: [Current Escrow Balance] — Total Payoff Balance: [Principal Balance + Accrued Interest + Escrow Balance] I kindly request that you provide this information to me within 10 business days from receiving this letter. Ensure that the provided details include any potential fees or charges that may be associated with obtaining the payoff balance. Due to the time-sensitive nature of my inquiry, I would appreciate if you could expedite my request and provide the information electronically via email ([Your Email Address]) or fax ([Your Fax Number]), whichever is more convenient for your institution. Additionally, please let me know if there are any specific forms or procedures I need to follow in order to receive this information promptly. I am deeply thankful for your attention to this matter and for facilitating my request promptly. If you have any questions or require any additional documentation to process this request, please do not hesitate to contact me at [Your Phone Number] or via email. I eagerly await your prompt response. Thank you for your time and cooperation. Sincerely, [Your Full Name]

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FAQ

Key Takeaways A payoff letter is a document that provides detailed instructions on how to pay off a loan. If you have the funds to pay off an installment loan early, request a payoff letter from your lender. It tells you the amount due, where to send the money, how to pay, and any additional charges due.

A payoff statement for a mortgage, sometimes referred to as a payoff letter, is a document that details the exact amount of money needed to fully pay off your mortgage loan. The payoff amount isn't just your outstanding balance; it also encompasses any interest you owe and potential fees your lender might charge.

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.

A deed of reconveyance is a document that indicates you've fully paid off the mortgage on your home. It represents the transfer of ownership from your mortgage lender to you. Over the time you repaid your mortgage, you legally owned the property, but the lender held the mortgage lien, or claim, to it.

You can find information on property records by contacting your local Secretary of State or county recorder of deeds. After you pay off your mortgage, your lender should also return the original note to you. You can also contact the company that paid off your loan to find out if the lien was released.

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.

Lenders 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.

More info

Payoff Letter Template ... Dear [Your Name],. Per your request, this letter is a payoff statement on Loan # 001-23-45 of $80,000.00. It has an annual rate of 3% ... How do I write a mortgage payoff letter? To get a payoff letter, ask your lender for an official payoff statement. Call or write to customer service or make ...If selling or refinancing your home with the intention of paying of the remaining balance on your forgivable loan, a payoff letter will be required. In the body of the letter, clearly state your intent to pay off a specific debt or loan. Provide details about the loan, including the loan number, amount owed, ... Nov 26, 2021 — How you will need to go about requesting a payoff quote can vary by lender. You may need to fill out a form, sign into an online system, or call ... Jan 11, 2021 — At your request, your lender will prepare a payoff letter or statement for you. The document they provide will include your loan balance but may ... Nov 28, 2021 — A payoff statement is a document that shows how much money a borrower must submit to fully pay off a loan. These statements differ from ... Jan 4, 2023 — 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 ... 1.PRINT AND FILL OUT THIS FORM - Please complete all relevant sections of the Payoff Request form. · 2.SIGN - Please remember to sign your Payoff Request form. Do you need a loan payoff request form? Create a request by filling out the required information. Visit our loan payoff request page to get started today.

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Pennsylvania Sample Letter Requesting Payoff Balance of Mortgage