Payoff Request Letter Question?

Hello to all investors.

I am looking for forms to request a loan payoff and find out account statements. The letter will faxed to the lender. The question is do you ask the lender to send you a request form or can you find these forms on the internet and if so does anyone know where or does anyone have one that I can use. Thanks in advance.

Comments(6)

  • InActive_Account29th September, 2005

    Just call the abnk and request one. They will mail it to you or fax.

  • bluefox10819th August, 2005

    Wow, does no body frequent this forum? 6 days and all I get is an edited post, lol.

  • bgrossnickle9th August, 2005

    If you have time, you could get a mortgage. I always use hard money. When they give their approval letter, I want to close ASAP. And if I am the purchaser, that means using hard money.

    Brenda

  • mcarr19736th September, 2005

    [ Edited by mcarr1973 on Date 09/18/2005 ]

  • InvestmentBanker14th September, 2005

    If your in a hurry to purchase then yes hard money would be the quickest and most expensive way. I do have one hard money lender that will do 100% financing as long as its within 65% of the value.
    Flat fee of $1000. 0pts...1.5% interest per month. 6 month loan.

    If you have time purchase then I suggest getting a 100% financing through a mortgage lender. If the sales price compared to the value is drastically low, you may want to make sure that the lender knows this is a short sale. Some have restrictions to f/c bailouts.

    After you purchase the property you can cashout immediately but would need to determine what your goals are for the property. Would you be retaining as a rental or selling immediately?

    In any case the appraisal is the most important piece of the financing puzzle. It has to be clean and specific to the issue of a below market sale.

    Hope this helps.

  • InvestmentBanker29th September, 2005

    ShortSalePro...

    You should check out the site for Ben Carmona.

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