The undersigned hereby authorize(s) Mortgagee, Mortgage Servicer or Note Holder to immediately issue a written payoff statement for the above referenced account to OneBoston Title & Closing Services, P.C. In the event this loan is secured by a Mortgage (Deed of Trust) allowing for advances of a credit line, please be advised that this letter authorizes you to freeze the referenced credit line upon issuance of your payoff (demand). If you require further authorization, please contact the undersigned immediately. Payment pursuant to your payoff (demand) will eliminate any security interest you have in the property in question. In order to avoid unsecured additional advances the account must be frozen upon issuance of your payoff (demand). If you make any additional advances they will not be secured by the subject property. We will be completing an escrow/closing transaction involving a new owner or lender in reliance on the release of your security interest in the property. Upon payment, you will be obligated to issue a release of the Mortgage (Deed of Trust) securing the line of credit. Furthermore, upon receipt of payment in full, Noteholder is hereby directed to close the said account(s) and issue a mortgage discharge(s) and/or release of lien(s) along with all appropriate fees to OneBoston Title & Closing Services, P.C. We agree to pay any fees for generating the payoff statement.
Note: For the purpose of this form, the term “mortgagee” shall mean the original mortgagee or a record successor or a successor thereto by operation of Law or pursuant to M.G.L. c.183 Section 55(i)
Loan/Account Number: _____________________________________________________________________
Borrower:______________________________________ Borrower: ______________________________________
Social Security#: _____________________________ Social Security#:______________________________