Help - Purchasing 2nd TD, how to pay off 1st TD?


#1

What would be the best way or some ways to pay off the 1st TD if I were to purchase the 2nd TD at auction? What I’m trying to say is how would I contact the 1st TD so I can personally give them the cash/check or deliver them the cash/check to pay off the 1st immediately? The 1st TD appears to be chase bank. Can I just walk into the bank and give them the balance owed???


#2

Hi JackMan17,
You will want to request a payoff demand from that lender. They will need to calculate the interest and give you an amount in writing with the daily interest. If the first is not in foreclosure then you would contact the payoff department of the lender. If the property has had a Notice of Default filed then you would contact the trustee for the payoff information. If you need assistance locating the payoff department of the lender then your local title company should be able to help you.