Comments on: Mortgage Refinance Documents: OMG What Did I Sign? http://thefinancebuff.com/mortgage-refinance-documents-omg-what.html like a friend telling you about money ... Fri, 10 Feb 2012 17:31:35 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: TFB http://thefinancebuff.com/mortgage-refinance-documents-omg-what.html#comment-5163 TFB Tue, 30 Nov 2010 19:08:18 +0000 http://blog.thefinancebuff.com/?p=248#comment-5163 Roxanne - No. The payoff doesn't have to be accurate to the penny. If you pay too much to your previous lender, which is typical when the payoff includes a few extra days of interest, you will get a refund from the previous lender. Don't worry. Many lenders charge a fee to the tune of $30 every time you ask for a payoff statement. If you go overboard requesting the payoff document, you are just paying fees to your old bank unnecessarily. Roxanne – No. The payoff doesn’t have to be accurate to the penny. If you pay too much to your previous lender, which is typical when the payoff includes a few extra days of interest, you will get a refund from the previous lender. Don’t worry.

Many lenders charge a fee to the tune of $30 every time you ask for a payoff statement. If you go overboard requesting the payoff document, you are just paying fees to your old bank unnecessarily.

]]> By: Roxanne http://thefinancebuff.com/mortgage-refinance-documents-omg-what.html#comment-5162 Roxanne Tue, 30 Nov 2010 18:54:03 +0000 http://blog.thefinancebuff.com/?p=248#comment-5162 Is the lender required to provide the previous lender's payoff document with the closing docs? Our new lender has given us different figures 3 different times as to what the payoff amount is. I also received a different amount upon contacting my old bank. Is the lender required to provide the previous lender’s payoff document with the closing docs? Our new lender has given us different figures 3 different times as to what the payoff amount is. I also received a different amount upon contacting my old bank.

]]> By: TFB http://thefinancebuff.com/mortgage-refinance-documents-omg-what.html#comment-4228 TFB Sat, 24 Jul 2010 04:06:39 +0000 http://blog.thefinancebuff.com/?p=248#comment-4228 For the paid off loans, I'm keeping the note and the security instrument, plus the lien release ("reconveyance") document the previous lender records after the payoff. For the paid off loans, I’m keeping the note and the security instrument, plus the lien release (“reconveyance”) document the previous lender records after the payoff.

]]> By: T Krent http://thefinancebuff.com/mortgage-refinance-documents-omg-what.html#comment-4226 T Krent Sat, 24 Jul 2010 02:55:58 +0000 http://blog.thefinancebuff.com/?p=248#comment-4226 I have refinanced my mortgage loan several times over the past 15 years to get better financing or to take cash out during some difficult financial circumstances. How many of the Closing documents from my old refinanced loans do I need to keep and for how long after I have refinanced? I assume I will keep everything from the active loan and the top 4 on your list of mortgage documents list. What paperwork can I get rid of from the previous loans? T. I have refinanced my mortgage loan several times over the past 15 years to get better financing or to take cash out during some difficult financial circumstances. How many of the Closing documents from my old refinanced loans do I need to keep and for how long after I have refinanced? I assume I will keep everything from the active loan and the top 4 on your list of mortgage documents list. What paperwork can I get rid of from the previous loans?

T.

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