Updated almost 9 years ago on . Most recent reply
Owner Finance Question
In 2012 I sold a house by way of owner financing with a seven year balloon. The buyers are now refinancing with a bank and paying me off. The title company wants to know the payoff amount which is easy enough to see with the loan amortization table. Other question they ask is what is the daily per diem during the pay off month. I can't get my mind around this for some reason. I think the daily per diem should be calculated only from the interest portion of the loan for the month...or should it be calculated from the interest portion as well as the principal?
Most Popular Reply
Throw in a $100 payoff fee / settlement fee / whatever.
Buy yourself something nice.
You're welcome :)