Notice of Maturity and Demand for Payment
[Date]
[Name and address of borrower]
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See section 14.5 in this chapter. |
Re: [describe note and loan documents]
[Salutation]
The referenced note matured on [date] and remains unpaid.
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Select one of the following. |
Demand is made for the immediate payment of all unpaid principal and all accrued but unpaid interest. Please contact [name] for the current payoff information.
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Or |
Demand is made for the immediate payment of $[amount] principal and $[amount] accrued but unpaid interest through [date], together with additional interest at the rate of $[amount] per day until paid.
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Continue with the following. |
Please be advised that if the payment is not received by [date], the mortgagee will exercise its rights under the loan documents.
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Include clause 14-7-1 if this is the first correspondence from the attorney to a debtor who is a consumer. See section 14.4:5. |
If you have any questions, please consult your legal counsel.
Sincerely yours,
[Name of attorney]
Certified Mail No. [number]
Return Receipt Requested
c: [name of borrower], by first-class mail