"Payoff statement"
Sec. 5. As used in this chapter, "payoff statement" means a
statement of the amount of:
(1) the unpaid balance of a loan secured by a mortgage,
including principal, interest, and any other charges properly due
under or secured by the mortgage; and
(2) interest on a per day basis for the unpaid balance.
As added by P.L.2-2002, SEC.14.
Last modified: May 24, 2006