This form is a sample letter in Word format covering the subject matter of the title of the form.
This form is a sample letter in Word format covering the subject matter of the title of the form.
To request a payoff statement, you will need to contact your lender or credit card company. You can typically request a payoff statement online, over the phone, or by mail. Make sure to provide your account information and specify that you are requesting a payoff statement.
How do I request a payoff letter? 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.
Under federal law, the servicer must generally send you a payoff statement within seven business days of your request, subject to a few exceptions. (12 C.F.R. § 1026.36.)
When should I get my mortgage payoff statement? Request your mortgage payoff statement when planning to prepay your mortgage, refinance, or consolidate debt.
Online lenders may show you a payoff amount online after you request this information. However, traditional financial institutions will usually mail you a more formal and comprehensive payoff statement if you request one.
For the most part, a servicer is required to send back a payoff statement within 7 business days of the initial request.
How to Write a Payoff Letter: Step-by-Step Guide Step 1: Gather necessary information. Step 2: Format your letter. Step 3: Clearly state your intentions. Step 4: Detail the necessary information. Step 5: Request written confirmation. Step 6: Offer contact information. Step 7: Proofread and submit.