How Mortgage Payoff Works in a Refinance

Failing to understand process can cost borrowers

  BY JACK GUTTENTAG, MONDAY, OCTOBER 24, 2011. Inman News™

A reader asked her loan officer for an explanation of the process by which her existing loan was paid off when she refinanced. She found the answer completely incomprehensible.

Read the complete article that I just posted a few pages over to your left.