Mr. Cooper Charges $25 for this payoff quote, and as far as I can tell there is no way around paying for it. Roundtree charges $30. It seems like these services can charge what ever they want and there is no recourse for the borrower. (this is not the fee to the county or Title) this is purly the lender charing the consumer what ever they want to close out the loan, and since our morgages get transfered to servicer to servicer we really have no say in the matter.
I paid off our mortgage two months ago and I experienced some anxiety over sending a cashier check for 95k. I’ve never written a check that big and stared at it for days and was thinking of all the things I could do with it like college for kid, extra security blanket and even buying a fancy car I didn’t need. After two days I over nighted it knowing I was getting weird and also knew it was the best choice for my family. It was actually anti climatic doing it but remember it makes no impact to your net worth, you are just trading cash for an asset.
I love this. Thank you for sharing. It’s a huge decision and only you can make it. You know your situation better than anyone else. Congratulations on your mortgage freedom!
Great vid! I just ordered my payoff statement even though I don't plan to pay it off until next year. I don't want any surprise fees. I can't wait to have the extra money to invest with.
Super helpful info! With interest rates as low as they are, property taxes in my area can be nearly as much as the principal+interest! Definitely takes some of the excitement away from paying off a mortgage early 😅
Thank you for the clear information from this video. I bought my home for $209,900 in 2019. Sold it for $473,567 and wasn't sure how the payoff statement worked. THANKS!!
Excellent video,,,, payoff was done but insurance and taxes not paid,,,, question,,, A) does escrow send the money to taxes and insurance after house paid?? Or Do I have to pay out of pocket since insurance and taxes are due all ready?? Or Will escrow send me what ever is left in ??? Time???
Thanks for watching! You’ll have to pay taxes and insurance going forward. Be sure to create sinking funds for those expenses so you’re prepared Depending on what’s been paid and how much is built up in escrow when you pay off your mortgage, you may get money back Contact your lender to find out as soon as possible
Great info! During a refinance, who pays the payoff quote fees? I'm being charged $75 ($25/statement) because the title company or lender requested expedited statements.
Hey loved your contents. Me and my wife are getting ready to request the payoff statement. Are there anything we should be worry about ? Or know before we do . I don’t know enough about the process, and I’m scare of fees and etc etc that I’m not aware of. Thank you
Thank you!! Here’s another video that walks through the mortgage payoff process: ruclips.net/video/0Ubw8vBVi8U/видео.html I hope it helps with your worries!
I accidentally requested a mortgage pay off and I’m no where close to paying off my mortgage; should I contact the lender & let them know I requested this in error since there will be extra fees if not paid by the expiration date on the letter?
Yes, I think it’s a good idea to give your lender a call and let them know you won’t be paying off your mortgage. Discuss next steps with them and any fees associated
Yes, I think it’s a good idea to give your lender a call and let them know you won’t be paying off your mortgage. Discuss next steps with them and any fees associated
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Where are you in your mortgage payoff journey?
Looking forward to the no mortgage experience when I wire over the funds to pay mine off this week. It is a wonderful place to find myself at.
What an incredible week in your life!
Very interesting to hear you talk about "giving".
Thank you for doing so!
Absolutely! It’s something we’re working on improving as a family.
Mr. Cooper Charges $25 for this payoff quote, and as far as I can tell there is no way around paying for it. Roundtree charges $30. It seems like these services can charge what ever they want and there is no recourse for the borrower. (this is not the fee to the county or Title) this is purly the lender charing the consumer what ever they want to close out the loan, and since our morgages get transfered to servicer to servicer we really have no say in the matter.
Yes, I remember paying a similar fee for my mortgage payoff statement… one last kick in the pants before you’re mortgage free!
I paid off our mortgage two months ago and I experienced some anxiety over sending a cashier check for 95k. I’ve never written a check that big and stared at it for days and was thinking of all the things I could do with it like college for kid, extra security blanket and even buying a fancy car I didn’t need. After two days I over nighted it knowing I was getting weird and also knew it was the best choice for my family. It was actually anti climatic doing it but remember it makes no impact to your net worth, you are just trading cash for an asset.
I love this. Thank you for sharing.
It’s a huge decision and only you can make it. You know your situation better than anyone else.
Congratulations on your mortgage freedom!
$14 recording fee! In my county it's $303:50.
Woah!
Great information & video. Really clear
Thank you!
Great video Andy.
Thank you!!
Great vid! I just ordered my payoff statement even though I don't plan to pay it off until next year. I don't want any surprise fees. I can't wait to have the extra money to invest with.
I love this pre-planning!
It’s good to know what’s coming your way 🤑
Super helpful info! With interest rates as low as they are, property taxes in my area can be nearly as much as the principal+interest! Definitely takes some of the excitement away from paying off a mortgage early 😅
Yes! Even without a mortgage, we're still paying $6k-7k per year in taxes and insurance.
Love your videos!
Thank you so much!
Love your videos
Thank you James! I’ll keep em coming!
Thank you for the clear information from this video. I bought my home for $209,900 in 2019. Sold it for $473,567 and wasn't sure how the payoff statement worked. THANKS!!
So glad the video was helpful!
Excellent video,,,, payoff was done but insurance and taxes not paid,,,, question,,,
A) does escrow send the money to taxes and insurance after house paid??
Or
Do I have to pay out of pocket since insurance and taxes are due all ready??
Or
Will escrow send me what ever is left in ??? Time???
Thanks for watching!
You’ll have to pay taxes and insurance going forward. Be sure to create sinking funds for those expenses so you’re prepared
Depending on what’s been paid and how much is built up in escrow when you pay off your mortgage, you may get money back
Contact your lender to find out as soon as possible
Great info!
During a refinance, who pays the payoff quote fees? I'm being charged $75 ($25/statement) because the title company or lender requested expedited statements.
They are lookin’ for more money from you!
Check out this video too for the full mortgage payoff process- ruclips.net/video/0Ubw8vBVi8U/видео.html
I hope to be requesting my payoff statement October 2024😊
Awesome! Keep us posted on your progress! It motivates others looking to do the same
Hey loved your contents.
Me and my wife are getting ready to request the payoff statement. Are there anything we should be worry about ? Or know before we do . I don’t know enough about the process, and I’m scare of fees and etc etc that I’m not aware of. Thank you
Thank you!!
Here’s another video that walks through the mortgage payoff process: ruclips.net/video/0Ubw8vBVi8U/видео.html
I hope it helps with your worries!
I accidentally requested a mortgage pay off and I’m no where close to paying off my mortgage; should I contact the lender & let them know I requested this in error since there will be extra fees if not paid by the expiration date on the letter?
Yes, I think it’s a good idea to give your lender a call and let them know you won’t be paying off your mortgage. Discuss next steps with them and any fees associated
Yes, I think it’s a good idea to give your lender a call and let them know you won’t be paying off your mortgage. Discuss next steps with them and any fees associated