A payoff is the total amount owed that a borrower must pay to completely satisfy and close their mortgage loan. It includes the remaining principal balance of the loan as well as the accrued interest and any outstanding fees to the effective date of the payoff.
A borrower can request a payoff quote via phone 1-888-623-2698 or visiting a local OceanFirst branch. A verbal quote will be provided over the phone and mailed to the address on record or emailed to the branch.
If a borrower requests to send the payoff quote to a third party, a request in writing, payoffs at oceanfirst dot com is required with a signature. Please provide an email address or fax number for the third party.
A third party must submit the request in writing via email, payoffs at oceanfirst dot com or fax to 732-240-3153. Please include the borrower’s name, account number, good through date, and borrower’s authorization.
A paid and closed letter can be mailed, emailed, or faxed to the borrower. Please request the letter via email at payoffs at oceanfirst dot com.
Cancel fees are charged by the counties in which your property resides for cancellation/discharge of recorded documents. Borrowers have the option to pay the fee at payoff or to the county directly to cancel/discharge recordings. Note: The recorded lien on the mortgage is not removed until the county has cancelled/discharged the mortgage.
After paying your loan in full, it typically takes 6 – 8 weeks before receiving your cancel and discharged documents.
Please contact payoffs at oceanfirst dot com for an updated status. Note: Access to land records is available on most NJ county websites where your property is located. Backlogs in processing at the county can result in extended timeframes for receipt of cancelled/discharged documents.