[Your Name] [Your Address] [City, State, Zip Code] [Email Address] [Phone Number] [Date] [Name of Mortgage Lender] [Address] [City, State, Zip Code] Subject: Request for Payoff Balance of Mortgage Loan Dear [Mortgage Lender], I hope this letter finds you well. I am writing to formally request the payoff balance of my mortgage loan. I am a resident of South Carolina and hold an account with your esteemed organization. Furthermore, I would like to settle my mortgage loan and completely pay off my outstanding balance. As such, I kindly request your assistance in providing me with the detailed, itemized payoff balance, including any applicable fees or charges, as of the date of this letter. Mortgage Loan Details: — Borrower Name: [Your Name— - Loan Account Number: [Mortgage Loan Account Number] — Property Address: [Property Address— - Loan Origination Date: [Origination Date] I kindly request you to prepare the payoff statement as per the regulations and requirements of the state of South Carolina and ensure that it includes the following details: 1. Principal Balance: The remaining balance of the principal amount that I owe on my mortgage loan. 2. Interest Accrued: The interest that has been accrued on the loan since the last payment date or as per the agreed-upon terms. 3. Late Payment Charges: If there are any applicable late payment charges, please include them in the payoff statement. 4. Other Fees and Charges: Include any other fees, such as legal fees, document preparation charges, or service charges that may be applicable. 5. Prepayment Penalty (if applicable): If there is a prepayment penalty mentioned in the loan agreement, please specify the amount in the payoff statement. I understand that it may take some time to prepare the payoff statement. However, I kindly request that you provide the statement within [mention a specific time frame, e.g., 10 business days] from the receipt of this letter to facilitate a smooth and timely payoff. Please send the payoff statement via mail to the address mentioned above, or alternatively, you may email it to me at [Your Email Address]. Should you require any additional information or if there are any specific forms that need to be completed, please notify me promptly so that I can provide you with the necessary documentation without delay. Thank you for your prompt attention to this matter. I look forward to receiving the detailed payoff statement in due course. Should you have any questions or require further clarification, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address]. Sincerely, [Your Name]
South Carolina Sample Letter Requesting Payoff Balance of Mortgage
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How to fill out South Carolina 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.
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.
Your current balance might not reflect how much you actually have to pay to completely satisfy the loan. Your payoff amount also includes the payment of any interest you owe through the day you intend to pay off your loan. The payoff amount may also include other fees you have incurred and have not yet paid.
What is a 10-day payoff and where can I get it? A 10-day payoff statement is a document from your lender that gives us the payoff amount to purchase your vehicle, including 10 days worth of interest. We need this document in order to finalize your trade-in or sale.
A 10-day payoff refers to the time it takes for your new lender to pay off your old loans during a refinance.
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.
