Green Tree Servicing merged with Ditech Financial, and the two companies are now known as Ditech, explains Housing Wire. To payoff a mortgage with Ditech, the borrower must make the final payment with a cashier's check, a money order, a bank wire, or another certified form of payment, unless a title company is remitting funds for the borrower, notes Ditech. A borrower may mail his final payment to Ditech or send the payment via overnight delivery.Continue Reading
Borrowers may also opt to pay off a mortgage by wiring or transferring the necessary amount directly to Ditech's Bank of America account. The borrower must include his account name and Ditech account number in the memo section, reports Ditech.
Before sending a payoff amount, a borrower must first obtain a payoff quote, according to Ditech. After the borrower requests this quote, Ditech sends it via phone, via fax or through the customer's online account. This quote shows the borrower the total amount he owes. Since the quote is based on a certain date, the quote does have an expiration date, which is printed on the quote. If a borrower does not pay off his mortgage loan by this date, he should ask for a new payoff quote.Learn more about Credit & Lending