Need examples of actual payoff letters w/terms and conditions

I’d like to add to my knowledge base fairly quickly :bobble and not have to learn everything the hard way. :banghead

I have a few payoff letters and seen a few others, but I’d really like to not have to wait to acquire my own arsenal from every lender that I’m dealing with. It could take me three months to get one, and then one of the terms is totally unacceptable.

Some of the terms and conditions just really suck. Like BOA – they have a 30 day clause during which time the investor cannot resell the property. This pretty much nips a double-close in the bud. It’s a self-defeating clause, if you ask me, but banks haven’t been known for being real brilliant lately (otherwise, we wouldn’t have 2,000,000 foreclosures in the country right now). Sure, there will always be some small percentage, but I think we’ve gone from about .5% to 2% (just a guesstimate), which is quadrupling the inventory.

What I’d like to see is a payoff letter from Citimortage, US Bank, Wells Fargo (or ASC), Ocwen – all the biggies. I could do some horse trading, if that is an incentive. Confidential stuff (name, address) could be redacted, but if the numbers were there, that would prove interesting.

Of course, maybe I should sign up for somebody’s $895 course, but I think 90% of what I’d hear I already know. I just need to see the terms and conditions of various payoff letters. If they are all starting to say, “Must hold property for 30 days, or 90, or 180 days”, then I’m about to get out of the short sale business. I’m not interested in going through all this misery for some missionary effort to help banks avoid the headache of carrying REO inventory. My only justification for the agony and pain I have to suffer through with the obvious and blatant ineptness every day, is 1) making money, and 2) helping folks avoid foreclosure, or even a BK.

So, :help

No takers on trading templates of payoff letters (confidential info redacted, of course)?

There are about 50 of them on this website I came across a while back.

BOA/CW are the only 2 that I know of that r doing this.
Once they reaize that their REO department is blowing up someone will take a look at why.

Well, RELFlorida, bless you; bless all of your kin, and God Bless the United States of America, home of the free, land of the brave.