Payoff Form Statement With Per Diem In Cook
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FAQ
TILA requires that a mortgage lender or servicer send ''an accurate payoff balance within a reasonable time, but in no case more than seven business days'' after receiving the borrower's request. 15 U.S.C. § 1639g.
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.
You calculate the total reimbursement by multiplying the per diem rate times the number of days spent on the trip. For example, let's say an employee is going on a 3-day business trip and the company's per diem rate is $150 per day. The total per diem would be 3 x $150 or $450 for the three-day trip.
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.
