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got the ok

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ShanetheMortgageMan
Super Contributor

Re: got the ok

If the lender is OK with it, get settlement letters from each of the creditors, provide them to the LO who will forward them to the underwriter/title company, so at closing the condition to pay off "X" collection for "$X" will be listed as a closing instruction, and then the title officer would have the payoff (where to send, how much, etc.) to forward the additional funds they collect from you at closing.
Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Southern California and lending in all 50 states
Message 11 of 13
Anonymous
Not applicable

Re: got the ok

so would a statement from the CA be sufficient? I planned to pay in full on two of them, thats all thats left.. im hoping since the scores pulled were high enough, we dont need to worry about the accounts we paid dropping our score later.
Message 12 of 13
ShanetheMortgageMan
Super Contributor

Re: got the ok

Yes, creditors I meant as in whoever is reporting to the credit bureaus, collection agency, etc.
Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Southern California and lending in all 50 states
Message 13 of 13
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