"Payoff statement"

Sec. 5. As used in this chapter, "payoff statement" means a statement of the amount of: (1) the unpaid balance of a loan secured by a mortgage, including principal, interest, and any other charges properly due under or secured by the mortgage; and (2) interest on a per day basis for the unpaid balance. [Pre-2002 Recodification Citation: 32-8-15.5-5.] As added by P.L.2-2002, SEC.14.