Hello!
I have a pretty basic question. I have been in a HAMP loan for the last three years. It has a deferred balance and a balloon that ends up being the equivalent of about $6500 per year of the loan.
My lender is Ocwen, and I just asked them for a payoff quote. I was curious on what I owe compared to the homes value. The quote seemed low.
Do payoff quotes include the balloon payments for that time? Am I to assume that were I able to actually pay off my mortgage that the quote they gave me is all that I could be billed for?
Thanks in advance!
I have a pretty basic question. I have been in a HAMP loan for the last three years. It has a deferred balance and a balloon that ends up being the equivalent of about $6500 per year of the loan.
My lender is Ocwen, and I just asked them for a payoff quote. I was curious on what I owe compared to the homes value. The quote seemed low.
Do payoff quotes include the balloon payments for that time? Am I to assume that were I able to actually pay off my mortgage that the quote they gave me is all that I could be billed for?
Thanks in advance!