Sunday, December 4, 2011

What is the difference between a balance and a pay off balance?

I'm going to be paying off a loan with my tax return. I noticed on the last statement I received there is a * next to the balance. At the bottom the * is defined as not the pay off balance. The office is closed until Monday and I'd like to find out now. Can someone explain?|||Would probably mean that paying off early will be less than the amt if paying in time (interest would be discounted). You can call %26amp; get a payoff (which will change after a period of time...like maybe the next day even).





Best wishes





God bless|||The pay off balance will be determined on the DAY you actually PAY it....the accrued interest will be determined at that time.

No comments:

Post a Comment