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 Code] [Email Address] [Phone Number] [Date] [Name of Mortgage Company] [Address of Mortgage Company] [City, State, Zip Code] Subject: Request for Payoff of Loan Dear [Mortgage Company], I hope this letter finds you well. I am writing to request a detailed payoff statement for the loan held by your esteemed company on my property located in Puerto Rico. Property Information: — Property Address: [Full Address— - Loan Account Number: [Account Number] — Borrower Name: [Your Name] I am in the process of selling the aforementioned property and need to obtain an accurate and updated figure of the total outstanding loan balance along with any additional charges or fees that may apply. Kindly provide the following information within [recommended timeline]: 1. Outstanding Principal Balance: Please provide the exact amount of the outstanding loan principal balance as of the specified date. This should include any remaining principal, accrued interest, and any other charges up to that date. 2. Interest Calculation: Please elucidate the interest calculation methodology used, including the annual interest rate, compounding frequency, and any specific interest accrual policies. 3. Prepayment Penalties: If there are any prepayment penalties associated with the loan, please outline the applicable charges and provide a breakdown of how they were computed. 4. Escrow Account: Specify the balance held in any escrow account associated with the loan, if applicable. This should include taxes, insurance, or any other form of BS crowed funds. 5. Other fees or Charges: Detail any additional charges, such as late fees, legal fees, or any outstanding fees not mentioned above. 6. Payment Instructions: Provide detailed instructions on how to make the payoff payment. Include the acceptable methods of payment, the exact payee name, and any specific payment reference information required. Given that time is of the essence, I kindly request that you expedite the provision of the requested payoff statement so that I may proceed with the property sale smoothly. If there are any obstacles or difficulties in fulfilling this request within the suggested timeline, please communicate them to me promptly. Thank you for your prompt attention to this matter. I appreciate your cooperation and assistance in facilitating a smooth loan payoff process. If you require any additional information or documentation, please do not hesitate to contact me at [phone number] or [email address] at your earliest convenience. Yours sincerely, [Your Name]
