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Who is responsible for requesting a loan payoff statement before closing?

User Einclude
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1 Answer

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Final answer:

The buyer or borrower is responsible for requesting a loan payoff statement before closing.

Step-by-step explanation:

Before closing on a loan, it is typically the responsibility of the buyer or borrower to request a loan payoff statement. This statement provides the remaining balance on the loan and any additional fees or charges that may be associated with paying off the loan early. By obtaining a loan payoff statement, the buyer can ensure that the correct amount is paid to fully satisfy the loan before closing.

User Ayoub Bensakhria
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