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Nesgroup address: misc.consumers.house - Date & Time for the message: Mon, 07 Mar 2005 16:35:41 GMT /

Author of the message: vze8f3tq@verizon.net (v)

Title of the message:
Re: Paying off mortgage soon...a few questions please

Text of the message:
On 4 Mar 2005 11:21:42 -0800, someone wrote:

>I've been paying on my principal heavily every month for a while
>in an effort to get the thing paid off, and will do so in a few
>months.  I've read about "payoff statements" on CitiMortgage's
>Website (they are currently handling my mortgage) and such, but
>do I actually need to bother with such a thing?  Can't I just
>keep chipping away monthly till the balance is zero?  Also, what
>papers and documents should they send me when the mortgage is
>paid in full?

A "payoff statement" is for when somebody wants to pay a substantial
balance all at once in a lump, as in they are selling the house or
refinancing with a different lender.
In your case, just keep whittling away until it is gone.
Then they have to send you a Satisfaction & Discharge, often just
called a "Sat", like call them the month after its paid off and shows



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