For more information about Post Closing Account Services, contact Ron Mason at 704-336-2754 or rmason@charlottenc.gov.

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  

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. 

 
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.