Need Help
We are dealing with a short sale. They are willing to take 179.4k as payoff(Freddie Mac, 92% of BPO). Tax proration on this is about $4400. That would mean payoff is about $179.4k+$4.4k=$183.8k. If I receive a payoff from this Loan Servicing Inc. today, I should be able to use that payoff for anyone, correct? Or it would probably be a stip in the payoff? Next Monday the account will be moved over to another bank so I am trying to hurry up. Thanks, Chase
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A "payoff letter" is not necessarily the same thing as a short sale approval letter. The payoff amount is included in the short sale approval letter, as are closing instructions, and conditions.
[addsig]
Do they typically include the buyers name as a stipulation for closing?
Quote:
On 2005-01-27 14:04, TheShortSalePro wrote:
A "payoff letter" is not necessarily the same thing as a short sale approval letter. The payoff amount is included in the short sale approval letter, as are closing instructions, and conditions.