Subject: Request for Mortgage Payoff Balance: North Dakota Mortgage Account [#XXX] [Your Name] [Your Address] [City, State, Zip Code] [Email Address] [Phone Number] [Date] [Bank/Lender Name] [Bank/Lender Address] [City, State, Zip Code] Re: Request for Payoff Balance of Mortgage Account [Enter Account Number] Dear Sir/Madam, I am writing to request a detailed payoff balance of my mortgage account for the property located at [Property Address], which is registered under my name. I kindly request your prompt attention to provide me with the accurate payoff amount to settle the mortgage in full. Account Details: Borrower Name: [Your Full Name] Property Address: [Property Address] Mortgage Account Number: [Account Number] Loan Originator: [Original Lender Name, if applicable] I would like to inform you that I am considering refinancing my current mortgage; therefore, obtaining the accurate and up-to-date payoff information is vital for me to effectively assess my available options. To ensure the accuracy of the payoff balance, please include the following information within the provided statement: 1. Principal Balance: The remaining principal amount of the mortgage as of the payoff date. 2. Interest Accrued: The total interest accrued since the last monthly statement or as specified by the payoff date. 3. Escrow Balance: If there is an escrow account associated with my mortgage, kindly include the escrow balance separately. 4. Any Additional Fees: Include any applicable fees, such as prepayment penalties or administrative charges if they are relevant to my mortgage account. Additionally, please state the details of how the payoff funds should be submitted or wired to your institution. If there are any specific instructions or forms required, kindly include them with the provided payoff statement. I kindly request you to send the requested payoff statement to the following address: [Your Preferred Mailing Address] [City, State, Zip Code] Please ensure that the final statement is received by [Specify Date, typically within 10-14 business days] to allow sufficient time for finalizing the necessary arrangements. If you have any questions or require further clarification regarding this request, please do not hesitate to contact me at the phone number or email provided above. I appreciate your assistance with my mortgage payoff process. Thank you for your prompt attention to this matter. I look forward to receiving the requested payoff statement soon. Sincerely, [Your Full Name] [Your Mortgage Account Number] [Your Signature (if sending a physical letter)] --- Variations: 1. Sample Letter Requesting Payoff Balance of Mortgage for Property in Fargo, North Dakota 2. Sample Letter Requesting Payoff Balance of Mortgage for Property in Bismarck, North Dakota 3. Sample Letter Requesting Payoff Balance of Mortgage for Property in Grand Forks, North Dakota 4. Sample Letter Requesting Payoff Balance of Mortgage for Property in Minot, North Dakota 5. Sample Letter Requesting Payoff Balance of Mortgage for Property in Williston, North Dakota Note: The variations describe the same type of letter but are tailored to specific locations where the mortgage account is held in North Dakota.
North Dakota Sample Letter Requesting Payoff Balance of Mortgage
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How to fill out Sample Letter Requesting Payoff Balance Of Mortgage?
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FAQ
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.
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.
Your payoff amount is different from your current balance. 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.
That's because the difference likely is because of the way the interest of your loan is calculated. Basically, your balance is what you currently owe, and your payoff is what you owe plus interest that accrues from the statement date and a specific 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.
What Is A Mortgage Balance? A mortgage balance is the amount owed at a particular moment in time during the mortgage loan term.
