Loan Payoff 
Lenders should provide the following information in their request for loan payoffs:
  - Correct spelling of both borrowers name
  - Property address
  - Payoff through date(s)
  - Submit authorization for release of information from the current account holder
  - Email address or physical mailing address for delivery of payoff statement  

For additional questions or concerns, email or call Tasha West at (704) 336-2486.  Please allow 2-3 days to generate and deliver payoff.  

Subordination
HouseCharlotte loans can be subordinated; traditional refinance and FHA Streamline refinance under the following conditions:
  - For rate and term only
  - Cash-Out is not allowed
  - Consolidation of debts are not allowed
  - Repayments of unsecured debts are not allowed  

 Lenders should submit the following information in their request for subordination:
  - Letter on company letterhead of your request for subordination
  - Reasons for request  
  - Borrower(s) name and address
  - New loan terms and payment details
  - Old loan terms and payment details
  - Name of the trustee for the first lien-holder
  - Name and address of closing attorney
  - Appraisal (if ordered)
  - Proposed HUD-1 Settlement Statement
  - Indication of pick-up method (in-person or registered mail)

Reverse Mortgage refinance for property with a HouseCharlotte loan will require subordination and a reverse mortgage counseling certificate in addition to the items listed above.
  - Cash-out is not allowed
  - Repayments of unsecured debts are not allowed
Reverse Mortgage refinance on property with City Rehab loan will require repayment of the loan.

Please allow 5-7days for processing.  Lenders will receive written notice of approval and closing instructions.  The following individuals can assist with your request:
Delia Joyner (704) 336-3347
Robin Young 704 336-2557
Denice Beteta (704) 336-5860

 
Short Sale
Note: Collection of the documents below may require authorization for release of information from the seller.

When submitting your Short Sale request, please provided the following documentation:
  - First Mortgage Reduced Payoff Letter (mortgage company letterhead)
  - Documentation stating that the net funds (including amount) received from the sale of the property will not be sufficient to pay off the existing first mortgage; or itemized schedule of costs and losses
  - First Mortgage approval of or letter that the first lien holder is considering the Short Sale (mortgage company letterhead)
  - Copy of appraisal, property evaluation or comparable analysis
  - Purchase Contract for the sale of the subject property (copy)
  - HUD Approval of Short Sale (when applicable)
  - Hardship Explanation from borrower 

Please allow 10 days for processing.  The following individual can assist with your request: Denice Beteta (704) 336-5860.