Sec. 5-55. Payoff statements.
54 words·~1 min read·
/il/chapter-110/act-992/5-55A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 5-55. Payoff statements. A servicer shall indicate on its website that a borrower may request a payoff statement. A servicer shall provide the payoff statement within 10 days, including information the requester needs to pay off the loan. If a payoff is made, the servicer must send a paid-in-full notice within 30 days.