A payoff letter form is a document creditors use to request the final payment on a loan. The form requests pertinent information such as the outstanding balance of the loan, applicable interest rates, and the date by which payment is desired. This letter lets both parties know that the debt has been paid in full, allowing for closure on the matter. Creditors typically send payoff letters when a borrower is late on payments or in default on a loan. Use this form to draft your own payoff letter or download our free template. When you're behind on your payments or have defaulted on a loan, your creditor will often send you a payoff letter.
Below is the details about the form you were looking for to fill in. It will show you the time it may need to fill out payoff letter, what parts you need to fill in and several other specific details.
| Question | Answer |
|---|---|
| Form Name | Payoff Letter |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | sample payoff letter for private mortgage, payoff demand letter, loan payoff letter template, private mortgage payoff letter template |
Countrywide Home Loans, Inc.
Payoff Department
400 Countrywide Way
Simi Valley, CA
Fax:
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PAYOFF DEMAND STATEMENT |
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Statement Date: April 6,2004 |
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Statement Void After: April 16,2004 |
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(CV- |
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Mailed to: |
Property Address: |
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Attn: Sandy |
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123 Maple Street |
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San Diego, CA 92101 |
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X 99999 |
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Faxed to: |
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Escrow# ‘3588 |
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Payoff Loan No.: 2144 |
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Case # CA |
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Principal Balance as of 03/01/2004 |
$ |
370,260.30 |
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Interest from 03/01/2004 to 3/10/2004 |
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502.13 |
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*Statement Fees |
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30.00 |
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County Recording Fee |
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16.00 |
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Reconveyance Fee |
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45.00 |
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Total Payoff Due on Loan No. 21442170 |
$ |
370,853.43 |
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Total Due |
$ |
370,853.43 |
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PLUS ADDITIONAL |
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INTEREST SHOWN BELOW |
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*Please refer to important information about this fee on the next page of this statement.
Daily Interest1 |
From |
To |
Interest Rate |
55.7926 |
3/10/2004 |
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5.50% |
1Daily Interest Daily interest = Principal Balance x Interest Rate ÷ 365.
AMENDED DEMAND STATEMENTS ARE SENT AUTOMATICALLY IF THE TOTAL AMOUNT DUE INCREASES BEFORE APRIL 16,2004.
Payoff funds must be made payable to Countrywide Home Loans, Inc. and will be accepted by WIRE or CERTIFIED FUNDS ONLY. They MUST reference the Countrywide loan number, property address and borrower’s name in the OBI (Originator Beneficiary Information) field of the wire transfer or on the face of the check and must be sent per the instructions below. Failure to do so may cause delays resulting in additional interest due or the return of the funds to the remitter. Funds received after 3:00 p.m. Pacific Time may be posted the following business day.
Wire funds to: |
Mail funds to: |
Bank of America |
Countrywide Home Loans, Inc. |
ABA Routing #121000358 |
Attention: Payoff Department, Mail Stop |
MRC Account |
400 Countrywide Way |
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Simi Valley, CA |
THIS COMMUNICATION IS FROM A DEBT COLLECTOR