I Am Trying To Figure Out What An Authorization To Release
Can someone explain more what this is...1) an "Authorization to Release" form (this gives the bank permission to speak with you about the account). I keep reading this about a foreclosure, but I dont know what this is for sure!
I would apprecaite the help!
Thank you,
Sacredhoops
It's a note from the Homeowner to the Lender... giving the Lender permission to speak with someone other than the Borrower. It can be scrawled on a napkin, printed on looseleaf paper, or typeset by a printer.
Don't get hung up on the need for forms. If you understand the reasoning for what you are doing, you'll be able to create your own forms, or customize boilerplate forms that are offered for free on line....
The LOA may be as brief, or comprehensive as you would like it to be.
For example, instead of simply getting permission to speak with the lender, I usually include a formal request for a bundle of information.