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HOUSING DIVISION
City of San Fernando and San Fernando Redevelopment Agency
Demand Requirements
Requirements:
I. City or Agency loans may be paid off under the following
circumstances:
- The property owner is selling their home within the term
of the city/agency loan (or after if there is a balance due).
- The property
owner is refinancing with a “cash out” option
or withdrawal of equity.
- The property owner has lost his/her
mortgage and the recapturing bank is clearing liens on the property.
II. Program regulations require that the participating escrow
or lender follow the following guidelines for requesting
a payoff demand:
- A written request from the Lending Officer or Escrow Officer
requesting a payoff demand from the City or Agency
lien on their property.
- Itemized breakdown from the lender of the new
primary loan (a "Good
Faith Estimate").
- Copy of a Preliminary
Title Report.
- The last page of the latest property
appraisal report indicating the property address and the
appraised property
value.
- A Signed City or Agency Demand Request
Form
Items should be sent to or faxed to:
Housing DIVISION – PAYOFF DEMANDS
Community Development Department
San Fernando City Hall
117 Macneil Street San Fernando, CA 91340
Phone (818) 898-1378 Fax (818) 898-7329
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