AL Statement Regarding Payoff of Mortgage 1
STATEMENT REGARDING PAYOFF OF MORTGAGE
I hereby authorize __________________________________ the lender I am paying off this date, to use the escrow funds from my loan to make up any shortages between monies sent to them by ______________________________________ and the actual payoff figure required by said lender.
I also further indemnify ___________________________________ from any liability with respect to the amount of monies collected at closing to payoff the above referenced mortgage.
Upon notification by ______________________________________ and/or the above referenced lender that the payoff amount collected by ____________________________ to payoff the mortgage is insufficient, I herein agree to immediately forward a check payable to the lender to ___________________________________ for the balance of the payoff.
I herein acknowledge that the monies collected herein for said mortgage payoff seem reasonable but I understand that since __________________________________ cannot rely on the payoff statement to be completely accurate and since the lender will not be held responsible for the accuracy of the figures on said statement, I agree to make any adjustments necessary as stated above.
No guidelines are available for this form at this time.