I have a check for 53k coming from my mortgage company. I'm using some of the funds to pay off a student loan, but not all of it. The rest is for private loans. The check is written under my name and "campus partners" (my school loan company). How do I cash this check, or deposit it so I don't have to send all 53k. The loan I am paying off is only for 6k.
You don't. You'll need to take the check to Campus Partners and get their endorsement. That may mean that you'll have to swap your check for a check from Campus Partners for the difference. The only other way to handle it is to get a payoff figure from Campus Partners and arrange with your mortgage company to have two checks issued -- one payable jointly to you and Campus Partners for the payoff amount, and a second one payable just to you.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
You don't. You'll need to take the check to Campus Partners and get their 