Yes, the loan balance does not equal the loan payoff. Your monthly mortgage statement includes a loan balance amount which does not include any of the mortgage interest that's accrued since that last statement. The payoff amount changes daily and when selling your home you will need to know the payoff amount.
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Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602
Offering free legal representation to homeowners seeking a short sale
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