Payoff Requirements

Payoff Requirements

Payoff Demand Requests

HM Division - Capital Finance & Asset Management Unit
Lynn Watkins
Lynn.watkins@lacdc.org

Upon receipt, we will fax a list of conditions to the requestor which will include, but are not limited to:

-  Current property appraisal
-  Preliminary Title Report
-  Certified current estimated escrow closing statement
-  Authorization to release information and request from borrower(s) for payoff.  Please include social security numbers for all borrower(s).


Refinancing Only 

If the homeowner(s) is refinancing only, a letter must be written to the Community Development Commission of the County of Los Angeles stating that the homeowner is paying off the CDC loan and will remain living in the property.  This letter is signed by homeowner(s).

We will process your request within (10) ten business days from the receipt of all items above.


Selling Your Home


If you are selling your home, we need a copy of your final closing statement at the time of your purchase.  Please refer to your Note on Equity Shared Appreciation percentage plus the original loan amount due CDC. 

 

-->