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formula for figuring out payoff on a loan

Posted by Bryan on February 24, 2002 at 7:47 PM

Hi Ward
What is the formula for figuring out the payoff on a loan?
The things I would know are the date the loan was taken, a good guess at the interest rate, and if it were a first that it probibly is a 30 year loan. I know from there i could add the arrearage stated on the NOD.

If you could add a seperate formula lets call it the everything formula that would include pay off,interest on back payments,and trustee fees that would really help me out.

I get my info from CRR and then from copys of the NOD and NOS from my title co. If that helps

thanks again Bryan


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