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Frequently Asked Questions
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1.
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WHAT IS MY LOAN BALANCE?
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You will receive your principal balance every January printed on your IRS Tax form 1098 if your interest payments for the previous year exceeded $125 (it is important that you check Federal tax ID number we have on this form and inform us if it is incorrect - so that you will not be subject to an IRS $50 fine). If you need a balance more often you may call us or e-mail your request to LOANS@BANCENTRE.COM. Please note that your loan balance is not your payoff amount. A payoff amount would include interest since the last payment due date to your next payment date.
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2.
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HOW DO I PAYOFF MY MORTGAGE?
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If your monthly payments are deducted electronically, you may choose to have Bancentre process your payoff from the same account on the Wednesday before the 1st or 15th of each month. You must contact Bancentre at 360.834.8508 or via e-mail at AUTOPAY@BANCENTRE.COM with the appropriate information to authorize your payoff amount 5 days prior to the Wednesday you have chosen.
Please include the following information:
(1) the last 4 digits of your checking account number;
(2) your phone number for confirmation purposes;
(3) indicate if you want Bancentre to record the "Release of Mortgage" (see below);
(4) deposit your payoff funds--be sure your bank considers them "good funds" prior to the date of payoff.
After the loan is paid in full, BANCENTRE will shut down the automatic payment system. You do NOT need to notify your bank. Many banks will charge a fee if you attempt to stop the automatic payments.
PAYMENT BY CHECK
If you prefer to mail us a check, contact Bancentre and indicate the 1st or the 15th as your desired payoff date to obtain your payoff amount. We are currently unable to process payments in person.
All payoff quotes are subject to audit.
RECORDING THE RELEASE OF MORTGAGE
Upon payoff of your loan, you have two options for recording the Release of Mortgage at the Bureau of Conveyances in the State of Hawaii.
Option (1) If you want Bancentre to do the recording, include the $26.00 recording/postage fee with your payoff. After the Release has been recorded, the Bureau will notify us and we will send you a letter with your recording information.
Option (2) We will send you the unrecorded "Release of Mortgage" and instruction on how to record it. Send the document and $25.00 recording fee directly to the Bureau of Conveyances in Hawaii along with a self addressed envelope (postage prefixed).
Questions about the Release of Mortgage? E-mail PAIDLOAN@BANCENTRE.COM.
Click here to e-mail BANCENTRE for a payoff quote--please indicate an approximate payoff date
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3.
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CAN MY LOAN BE ASSUMED IF I SELL IT TO ANOTHER PERSON?
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MAYBE: As a policy we do not recommend a particular marketing company.
We recommend that you do avoid paying upfront fees for "Listing" the property. Marketing of timeshare is expensive for a broker. You will find that the most effective broker will request a 25% to 35% commission, but no fees upfront!
Many of our customers have successfully sold their property by talking with friends, neighbors, family and co-workers. Your property can be viewed by accessing the Pahio website at: WWW.PAHIO.COM or click on the link below.
Bancentre is currently allowing a buyer to assume payments if a broker is not involved. If the loan is assumed and extra funds are paid by the buyer to the seller, you may handle that directly between buyer and seller or use the services of an escrow company. If your seller needs a larger mortgage than your current balance call us.
FEES:
$28 for assumption WITHOUT the release of the original borrower
OR
$200 for assumption WITH the release of the original borrower - PENDING APPROVAL FROM LOAN COMMITTEE
Send the $28 or $200 fee and a simple purchase agreement with buyer and seller's signatures to:
Bancentre Corp
2309 NW Lacamas Drive
Camas, WA 98607
The purchase agreement should have at least the following:
1. Purchase price
2. date that buyer will assume payments
3. name,address, email, phone, and SSN of the buyer
4. name, address, email,and phone # for the seller.
We will mail the appropriate forms for the assumption to the buyer.
Bancentre's policy regarding assumptions is subject to change without notice. Please note that you will only be relieved of your legal responsibility for the loan if you choose the assumption WITH release of the original borrower.
TRANSFERRING YOUR RCI POINTS
If you would like to transfer your RCI points to the buyer, there is a $200 fee. Contact VIP Services at 1.887.270.8477 for more information.
Click here to view your property at WWW.PAHIO.COM
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4.
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HOW DO I DEED MY PROPERTY TO ANOTHER PERSON?
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(1) Purchase a "Quit Claim Deed." Click on the link below. Next, click on the "search" option and type "Hawaii Quit Claim Deed" in order to find the correct legal form.
(2) Complete the Quit Claim Deed form. Type "see exhibit A" where it asks for description of property.
(3) Remove the Exhibit "A" from your old deed (look in your files for "CONDOMINUM CONVEYANCE DOCUMENT") Attach the old Exhibit "A" to the new Quit Claim Deed.
(3) Grantors must sign the "Quit Claim Deed" in presence of a Notary.
(4) From the internet log on to: WWW.HAWAII.GOV/DLNR/WELCOME.HTML
click on Bureau of Conveyance
click Forms
print "P-64A" or "P-64B"
(5) ATTACH a Check in the amount of $25 plus the conveyance tax ($1 PER $1000 in price,round up to nearest dime) made payable to the BUREAU OF CONVEYANCES. You must enclose a self-addressed stamped envelope in order for your document to be returned to you after recording.
For recording, send your new Quit Claim Deed (2 originals), the tax form, and your check to:
BUREAU OF CONVEYANCES
STATE OF HAWAII
P.O. BOX 2867
HONOLULU, HI 96803
If you have any questions you can reach the Bureau at 808-587-0134. If loan has not been paid off, mail Bancentre a copy of the first page of the recorded deed the Bureau returned to you.
Click here for your QUIT CLAIM DEED from NUPPlegal
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5.
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WHAT HAPPENS IF I FALL BEHIND ON MY MORTGAGE PAYMENTS?
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If you anticipate payment problems, contact collections via e-mail PASTDUE@BANCENTRE.COM or call 360-834-8508 after 11am. You may be able to create a payment plan that will minimize damage to your credit. If you become more than 90 days delinquent, Bancentre may start the foreclosure process. It is important that you understand the consequences beyond losing your property.
(1) UNDER FORECLOSURE the property is sold for 25% - 30% OF ITS CURRENT VALUE because the new buyer must have cash at the auction.
(2) YOU WILL INCUR APPROX. $1400 IN ATTORNEY'S, NEWSPAPER PUBLICATION, AND COURT FEES
(3) YOUR CREDIT REPORT WILL REFLECT A FORECLOSURE
(4) THE HAWAII JUDGE CAN ISSUE A "DEFICIENCY JUDGMENT" AGAINST YOU. Any State in which we record the "Judgment" will result in a lien AGAINST recorded assets you currently own in those states.
(5) The judgment will severely RESTRICT YOUR FUTURE BUYING POWER for a recordable asset.
(6) The judgment accrues interest at 18% per year until paid.
(7) BANCENTRE may have the option of "garnishment of wages."
In short - it is best to give your property to someone who is capable of assuming your monthly payments before allowing the mortgage to go into default. See above for "CAN MY LOAN BE ASSUMED."
Click here to e-mail SERVICE DEPARTMENT
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6.
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WHAT IS BANCENTRE CORP'S PRIVACY POLICY?
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IMPORTANT INFORMATION – PERSONAL INFORMATION – PRIVACY PROTECTION POLICY
At Bancentre Corp., protecting your privacy and the confidentiality of your personal information is important to us. To offer you the financial products and services you seek, we collect, maintain and use certain information about you. We are providing you with the following statement describing our practices and policies with respect to the privacy of your customer information. In the event you terminate your customer relationship with us or become an inactive customer, we will continue to adhere to the policies and practices described in this notice.
INFORMATION WE COLLECT ABOUT YOU
We collect, retain and use non-public personal information about individual current and former customers to provide products and services to our customers. We may collect the following categories of non-public personal information about you:
information we receive from you, through applications for Bancentre products or services or other forms;
information about your transactions with us, our affiliates or with non-affiliated third parties; and
information we receive from consumer reporting agencies.
INFORMATION WE DISCLOSE ABOUT YOU AND TO WHOM
We may disclose the following kinds of non-public personal information about current and former customers to non-affiliated third parties such as mortgage bankers & brokers, direct marketers and property management companies:
information we receive from you on applications or other forms, such as name, address, SSN, assets and income;
information about your transactions with us, our affiliates or with non-affiliated third parties, such as your account balance, payment history, and parties with whom you engage in financial transactions; and
information from consumer reporting agencies, such as your creditworthiness and credit history.
We also may disclose non-public personal information about you to non-affiliated third parties as permitted by law.
GIVING YOU THE POWER TO CHOOSE
If you determine that you do not want Bancentre Corp. to share your non-public personal information with our non-affiliated third party partners (except under limited circumstances allowed by law), write Bancentre Corp. Include your loan number, full name, full address, SSN, signature and the date. An Opt Out direction by a joint customer shall apply to all the joint account customers. This notice applies only to non-public personal information about individuals who obtain financial products or services for personal, family or household purposes.
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