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What happens when a monthly payment is returned after the loan is paid off?

April 26, 2017happens loan paid payment RETURNED

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What happens when a monthly payment is returned after the loan is paid off?

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The figures in the Payoff Statement may be based upon payments that were received but have not yet cleared your bank. If one of these payments is returned unpaid after the loan is paid off, CalHFA reserves the right to adjust the payoff figures. Interest will continue to accrue on the loan until CalHFA has received all amounts due.