Posted on: 11th Sep, 2010 12:57 pm
I have refi'd with a new bank. The loan has closed and funded. It funded on Friday. When will I see a zero balance on my old loan? Old loan held by B of A. New loan with US Bank. If I check my online statement for B of A will it say zero balance?
You will have to pay off your old loan with the loan funds you receive by refinancing. Once you do so, then your old mortgage will show zero balance.