A.8.5 Payoff Letter for Existing Mortgage

Name and Address Bank:

Madam/ Sir:

Subject:

Name and Address of Project:

Borrower’s Account No.:

This office has received an application for FHA mortgage insurance for the subject project. We are advised that your firm is the mortgagee. Please provide us with the following information.

Date of Mortgage: Original Amount: $ Monthly Payment Amount: $ Next Payment Due: $

MAP Guide, March 2021 Go to beginning of Appendix 8

Bookmarked Version Go to Acronym and Abbreviation List, Glossary, Index

Appendix 8 Page A8-18

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Appendix 8 Mortgage Credit Requirements A.8.6 Subordination, Non-Disturbance and Attornment Agreements

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Present Mortgage Balance: $ As of (Date): Other Amounts Due: $ Interest: Penalties: Total Payoff Balance (Excluding Forgiven Indebtedness, Rebates, etc.): $ Balance of Escrow, Reserves, etc. (Itemize): $ Is Debt Current: ☐ Yes ☐ No ☐ Satisfactory ☐ Unsatisfactory Other known Indebtedness against property (explain):

Remarks:

Signature Date

Title

Information provided will be used solely for our evaluation and will otherwise be held in confidence. We are enclosing a stamped, self-addressed envelope. Please replay at your earliest convenience.

Sincerely,