Payoff Confirmation

This Payoff Confirmation is for use by a lender to inform a new lender that borrower has paid off a loan. This confirmation sets out all pertinent information regarding the parties including the date of the original loan agreement, names of both borrower and lender and the total payoff amount (including any interest, other fees and charges and legal fees). It also sets out the specifics of how the new lender should pay off the existing loan. This Payoff Confirmation should always be set out in writing. A written confirmation containing all pertinent payoff information will prove invaluable in the event there are disputes regarding the original loan. (continued ...)