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DISCOUNT PAYOFF AGREEMENT and Release of Claims. June 12, 2009, VIA FAX /EMAIL (8883864035/ tom homesbytom.us) Re: Dear : Loan Number: 7748627 Property Address: 45600 Jaguar Way Temecula CA 92592
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A discount payoff agreement is a legal agreement between a lender and a borrower where the borrower agrees to pay back a loan at a reduced amount, typically in exchange for prompt payment.
Both the lender and the borrower are required to file the discount payoff agreement.
The discount payoff agreement should be filled out by specifying the details of the loan, the agreed upon discounted amount, and the terms of repayment.
The purpose of a discount payoff agreement is to provide a structured way for a borrower to repay a loan at a reduced amount.
The discount payoff agreement must include details of the loan, the discounted amount, repayment terms, and signatures of both parties.
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