Whether it is a purchase deal or refinance, title agents can save time while working on title production and coordinating the details of the closing by ordering Payoff Letters with PropLogix.
What is a Payoff Letter?
Selling a home is one of the most common ways an instrument like the mortgage or deed of trust is released. One of the tasks of the title agent or agent attorney coordinating the sale of a property is to track down what is owed to lenders and other lien holders to pay off the debt in full. In addition to selling a home, a payoff letter is needed for refinancing a mortgage or to make the final mortgage payment.