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This is BofA, right? Is this a countrywide division?
I have gone back and reviewed a few of our BofA letters both from CW and non-CW on first liens.
All our letters say:
12. Other: All funds must be wired. Any other form of payment of funds will be returned.
Payoff funds must be received within 48 business hours of the HUD-1 settlement date.
From what I know, the closing/recording date is what's important to them, because that is how they calculate all the pro-rations etc. Also, they always ask for funds to be wired, whereby you would have a wire confirmation the same day.
Are you seeing something different on your demand letter that I am missing?
If you want to talk, my number is 858-254-8497