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How Do You Determine How Much You Owe On Mortgage?

How do you determine how much money you owe on your mortgage, including past due amounts and late fees?

Harry Jensen, Trusted Mortgage Expert with 45+ Years of Experience
, Trusted Mortgage Expert with 45+ Years of Experience

When you sell your home you are required to pay off your current mortgage balance plus any past due amounts, back interest, penalties and fees. Your lender produces a document called a Payoff Demand Statement, or sometimes referred to simply as a Payoff Statement, that outlines the payment required to satisfy all outstanding obligations under the terms of the mortgage. You can contact your lender at any time and request a Payoff Demand Statement to determine the total amount of money you owe the lender to completely payoff your mortgage, including your mortgage balance, current monthly payment due and any overdue balances and fees.

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About the author

Harry Jensen, Mortgage Expert

Harry is the co-founder of FREEandCLEAR. He is a mortgage expert with over 45 years of industry experience. Over his career, Harry has closed thousands of loans for satisfied borrowers and now offers his advice and insights on FREEandCLEAR. More about Harry

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