Payoff Form Statement With Text In Tarrant
State:
Multi-State
County:
Tarrant
Control #:
US-0019LTR
Format:
Word;
Rich Text
Instant download
Description
The Payoff Form Statement with Text in Tarrant is a model letter designed to assist users in formally requesting information regarding the payoff status of a loan. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it facilitates effective communication regarding loan payments. The key features of the form include sections for date, recipient's name and address, and a clear outline of the request related to the loan payoff. Users are instructed to fill in specific details such as the loan holder's name and the amounts owed. The form also highlights the importance of considering any accrued interest and possible negative escrow adjustments, ensuring all parties are aware of the total payoff amount. It is vital for users to customize the letter to fit their specific circumstances, making it flexible for various situations. Overall, this form serves as a practical tool for maintaining accurate records and resolving financial matters efficiently.
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FAQ
(c) A beneficiary, or his or her authorized agent, shall, on the written demand of an entitled person, or his or her authorized agent, prepare and deliver a payoff demand statement to the person demanding it within 21 days of the receipt of the demand.
The number you see on your mortgage statement is the principal balance, not the payoff amount. The payoff amount showing on the settlement statement takes into account the principal balance plus interest accrued for the number of days between the statement and a few days after the closing.
