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Payoff Assignment Request, Disclosure, And Instructions
Please email PAYOFFS@WISNIK.COM for order forms–thanks!
- Robert Wisnik Esq. (RW) represents “WF,” Unity Bank and Edgewood Capital, Inc. as their Payoff Attorney for mortgage assignment requests.
- RW is acting solely as an agent for lenders and no other party. No relationship is created by virtue of RW’s actions other than that which they have as counsel to the lender.
- Please be advised that there is no law requiring a lender or Robert Wisnik as the lender’s Payoff Attorney to assign any loan to any other lender, or even to itself if it is the new lender, and some loans may not be assignable. The lender and Robert Wisnik as the lender’s Payoff Attorney are acting only to accommodate the mortgage market and assume no legal, moral or ethical responsibility in the event that the borrower’s needs are not met by this assignment effort.
- The lender and Robert Wisnik as the lender’s Payoff Attorney will not assume any responsibility for your New Lender’s finding any document(s) offered for an assignment to be unacceptable.
- It may take up to 30 days for the lender to complete the search for assignment documents and the lender does not guarantee that all documents required for a successful assignment are available after searching for them.
- If you have any bi-weekly or other automatic monthly payment program where the lender automatically withdraws your monthly or bi-weekly payment from your account, please do not cancel the next auto payment until after your loan-payoff payment is received by the lender. If you cancel the automatic payment and the lender miscalculates your payoff amount in reliance that one more complete or partial payment will be made, you may still owe the payment that the lender calculated in their payoff letter, plus any extra days of per-diem interest until the loan is fully paid off. PLEASE save yourselves the mad-scramble to get a bank check FedExed in the event of a shortfall plus extra days of interest, by waiting to cancel the auto-payment until the lender has received your payoff check(s)!
- Interest will continue to run on your loan until your payoff check(s) are received by the lender. We add 1 to 2 weeks of interest to the funding date to ensure that your loan is paid in full, even if a short adjournment, storm, holiday-weekend or other overnight-courier delay causes the lender to receive your payoff check(s) later than the anticipated date. The lender will return any extra interest paid beyond their date of receipt of your check(s) paying off the entire loan balance within approximately 3 weeks.
