Lender refuse to provide Payoff Letter
I represent a seller who intends to sell a property (land and manufactured home), and I have requested a payoff quote or letter from the lender to initiate the process with the Title company. Regrettably, the lender has declined to furnish the requested quote, citing multiple payment requests with no response.
Complicating matters, the lender has expressed an intention to commence foreclosure proceedings next week. In light of these challenges, I am seeking guidance on the available options in this situation
Most Popular Reply
@Maximiliano Rodriguez
Send the lender a qualified written response and copy the state banking / financing division to them noting All the attempts you have made and on what dates.
You can google both.
The lender / servicer has a specific period of time to respond to the request and can be sanctioned if they do not respond as well as will not be able to pursue action during that time
- Chris Seveney
