[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Loan Service] [Loan Service's Address] [City, State, ZIP] Subject: Request for Payoff Balance of Mortgage Dear [Loan Service's Name], I hope this letter finds you well. I am writing to request the current payoff balance of my mortgage account. I am a resident of New Mexico and hold a mortgage with your institution [insert name of mortgage company] for the property located at [property address] in [city], New Mexico. Furthermore, I am planning to pay off my mortgage in full and would greatly appreciate your assistance in providing an accurate and up-to-date mortgage payoff statement. Furthermore, I kindly request that you promptly provide me with the following information: 1. Total Principal Amount: Please provide the current amount of the principal balance on my mortgage. 2. Interest: Kindly itemize the accrued interest to date, including any applicable late fees or penalties. 3. Escrow Balance: If applicable, please provide the current escrow balance, including any surplus or deficit. 4. Payoff Date: Indicate the date by which the requested payoff balance is valid. 5. Payment Instructions: Please specify the acceptable methods of payment and any necessary details or instructions pertaining to the fulfillment of the payoff amount. I would appreciate receiving this information as soon as possible to facilitate a smooth and timely mortgage payoff process. Additionally, it would be helpful if you could provide the payoff statement in writing or through a secure online portal. Should you require any additional documentation or information from me to process this request, please let me know promptly. I value your prompt attention to this matter and would like to extend my gratitude for your assistance throughout this process. Thank you for your cooperation and professionalism. I look forward to your prompt response. Sincerely, [Your Name]
New Mexico Sample Letter Requesting Payoff Balance of Mortgage
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How to fill out New Mexico Sample Letter Requesting Payoff Balance Of Mortgage?
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FAQ
Let's go over five not-so-secret but super helpful tips for making that happen. Make extra house payments. ... Make extra room in your budget. ... Refinance (or pretend you did). ... Downsize. ... Put extra income toward your mortgage.
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.
How do I figure out my loan payoff amount? you can just call your bank and ask them to share the payoff amount with you. you can go to your online banking and look for the link to your payoff amount and print out a PDF file. you can dial a 1-800 number and use the IVR to get to the payoff amount.
Your principal balance is not the payoff amount because the interest on your loan is calculated in arrears. For example, when you paid your August payment you actually paid interest for July and principal for August.
Under federal law, the servicer must generally send you a payoff statement within seven business days of your request, subject to a few exceptions.
A payoff statement is a statement prepared by a lender providing a payoff amount for prepayment on a mortgage or other loan. A payoff statement or a mortgage payoff letter will typically show the balance you must pay in order to close your loan.
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.
A payoff quote shows the remaining balance on your mortgage loan, which includes your outstanding principal balance, accrued interest, late charges/fees and any other amounts. You'll need to request your free payoff quote as you think about paying off your mortgage.
