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05-04-2016, 09:48 AM #1
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- Apr 2016
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- 6
Forward Financial Pay Off Letter
Hi all,
I need a pay off letter from Forward Financing in order to see their pay off instructions. They're refusing to send my merchant the pay off letter in hopes to underwrite him first, which I completely understand. But in the mean time, does anyone have a pay off letter from Forward Financial that they can send me (any private information can be blacked out) in order for me to get this deal funded? I would most appreciate it.
Many thanks!Last edited by tshah; 05-04-2016 at 09:52 AM.
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05-04-2016, 10:23 AM #2
- Join Date
- Jun 2013
- Posts
- 351
Not 100% sure what your goal is but your post can easily be interpreted that you want a pay off letter to edit so you can get a deal funded. If that is what you are looking to do, that is fraud. If not, I would recommend making your intentions more clear.
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05-04-2016, 10:26 AM #3
- Join Date
- Apr 2016
- Posts
- 6
The company I'm funding the deal with said they can fund the deal if we get pay off instructions. Since I do not have a pay off letter myself, I thought I might reach out to the greater community. But, thank you very much for your concern and looking out for me.
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05-04-2016, 10:29 AM #4
- Join Date
- Apr 2016
- Location
- Florida
- Posts
- 133
sounds a bit fishy!!
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05-04-2016, 10:33 AM #5
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- Jul 2014
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- 1,746
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05-04-2016, 10:40 AM #6
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- Apr 2016
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05-04-2016, 10:41 AM #7
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- Jul 2014
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05-04-2016, 10:45 AM #8
- Join Date
- Apr 2016
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The pay off letter has the pay off instructions on it. If anyone has that, then that would work too. I'm just relaying information that the funder told me to get. Forward said they won't give a pay off letter until next week and keep requesting statements, so clearly they are trying to underwrite and present the merchant numbers first. I told him he can send it to them, but he wants the funding today - this is the only way the lender is willing to make it happen. If you think you can help me with this feel free to directly message me. Thanks again.
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05-04-2016, 10:56 AM #9
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- Jul 2014
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05-05-2016, 03:54 PM #10Karen37aGuest
Have your client email the company, then Call the company that is refusing to give the payoff letter and tell them that your client wants it. Or 3 way call it. A lot of lenders do that
Technically if lenders play these games with payoff letters and someone complains, it can hinder their ability to perfect loans going forwards
You can not make up your own payoff letter it is out of complianceLast edited by Karen37a; 05-05-2016 at 05:53 PM.
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