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Harlan Florence

Real Estate Closing Attorneys in Atlanta, Georgia

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Why is my mortgage payoff higher than my statement balance?

There are a number of reasons why the payoff balance may be higher than the amount shown on your monthly statement.

The most-common reason is that your monthly statement only shows the principal balance that’s currently owed, and does not include the additional interest accruing every day. Many times, this interest accounts for the difference between your statement balance and the final loan payoff. There are, also, other factors that can affect your payoff: there may be a shortage in an escrow account, there may be owed late fees or other lender charges, or there may be a prepayment penalty associated with your mortgage.

We always obtain a written payoff statement from your mortgage company, and will happily give you a copy if you want one.

Harlan and Associates is an Atlanta-based boutique law firm that believes there’s a better way to handle your real estate closing. We’d love to work with you. Contact us today, and let’s see what we can do together.

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Feb 20

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We're closed for Presidents Day, but we'll be back at it tomorrow. In the meantime, here are some fun facts about those who have held the office.  https://www.mentalfloss.com/article/531531/american-presidents-facts
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Jan 30

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Jan 16

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We are closed for the Martin Luther King Jr. holiday.
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Not all heroes wear capes. http://ow.ly/nayn50Mk9Pk
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Dec 21

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We'll be closed Friday the 23rd for the holiday. Have a happy Yule, everyone!
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Nov 11

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We're closed for Veteran's day as we  celebrate the service of all US military veterans. Know someone who served or is serving? Tell them thanks, and we'll see you on Monday.
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Harlan Florence, Attorneys at Law. 5775 Glenridge Drive, Building B, Suite 550, Atlanta, Georgia 30328.
T:770 817 1012 F:770 817 1013 W:www.harlanflorence.com (but you already know that, since you're here, right?)
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