My father's CDs, $75k and $25k, have reached maturity and he wants to cash them out and pay down on my home loan. How should we proceed?
Your father should contact the bank holding his CD funds and explain exactly what he wants to accomplish. The bank can suggest how to proceed.
One option is to have the bank put the funds into your father's checking account, from which he can write a check. Another is to issue a cashier's check payable to your father or directly to the party that holds your mortgage loan.
Depending on how the CDs and your home are owned, your father's payment on your mortgage account could have tax implications. Before making the payment, your father should contact a qualified tax adviser to discuss that aspect of the transaction.
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Your father should contact the bank holding his CD funds and explain exactly what he wants to accomplish. The bank can suggest how to proceed.