How To Generate A Payoff Amount
If your Buyer wants to pay off their Loan Note early, or Buy a Lease Purchased property prior to the completion of their lease term, then you can generate a payoff amount for them easily in the system.
To access a Note’s ‘Payoff Amount‘ first click the ‘Edit‘ link to the right of the Note record:
Under the ‘Loan Information‘ section scroll down to the ‘Payoff Amount‘ field and reference the amount that the system calculates:
NOTE: The ‘Payoff Amount‘ plus the ‘Principal Paid To Date‘ should equal the ‘Original Loan Amount‘.