Payoff Statement Request With Per Diem In Contra Costa

State:
Multi-State
County:
Contra Costa
Control #:
US-0019LTR
Format:
Word; 
Rich Text
Instant download

Description

The Payoff Statement Request with Per Diem in Contra Costa is a formal communication tool designed to facilitate the request for the payoff amount of a loan. This letter serves as a reminder and inquiry about the outstanding payment status regarding a specific loan. Key features include the ability to specify the total payoff amount, adjustments for negative escrow, and the calculation of interest accrued up to the payment date. Legal professionals, such as attorneys, partners, owners, associates, paralegals, and legal assistants, can utilize this form to ensure clarity in communication with lenders, preventing misunderstandings about the total amount due. The form should be tailored to fit individual circumstances, emphasizing the need for detailed and accurate information in the case of adjustments in the payoff amount. It encourages swift action by prompting recipients to verify payment status and provides a clear structure for the request. Overall, this document enhances both the efficiency and transparency of loan payoff processes in property transactions.

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FAQ

Meals and incidental expenses (M&IE): the standard California per diem rate for M&IE is $68 per day, except for the first and last days of travel, which amount to $51. Be sure to check if the area of business travel is not covered by a specified rate.

Travelers are eligible for 75 percent (75%) of the total per diem rate on the first and last day of travel. For example, if the per diem rate allows a $28 total reimbursement, $21.00 would be allowable on a travel departure or return day ($28 x . 75 = $21).

A mortgage payoff request form is a document that is typically provided by the borrower to the mortgage lender or servicing company to request the full payoff amount for the remaining balance on their mortgage.

By including a per diem amount in the letter, the parties will not have to execute another payoff letter if the termination date is delayed.

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.

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Payoff Statement Request With Per Diem In Contra Costa