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.
Just call the abnk and request one. They will mail it to you or fax.
Wow, does no body frequent this forum? 6 days and all I get is an edited post, lol.
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
[ Edited by mcarr1973 on Date 09/18/2005 ]
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.
ShortSalePro...
You should check out the site for Ben Carmona.