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Mortgage Late Charges After Payoff Amount Request

Can my current mortgage lender charge me a late fee once the attorney for my refinance requests a payoff figure from them?


Whether or not your bank can impose a late charge in such a situation will depend on state law. It may also depend on whether the payoff your bank quoted indicated that a late fee would accrue if the payoff was not received by a stated deadline.


Published on BankingQuestions.com 4/27/09