PAY OFF? or PAYOFF? Major lender forgets the difference.

Like many homeowners these days, we've been looking at mortgage rates and trying to decide whether to leave things as they are or tweak them while the rates are low.  In the course of that process, I reread the fine print on the monthly statement we receive for our mortgage payment and came across this statement:

NOTE: The ending balance is probably not the same as the amount to payoff your loan. For payoff information, you may use our 24-hour automated information system at ….

Whoops! When PAY OFF is a verb form, it is written as two separate words.  The first usage on my bank statement is an infinitive (TO + verb form), so it should be written TO PAY OFF.

 When PAYOFF is used as a noun or an adjective form, it is written as one word.  That is the case in the second usage in this statement, where PAYOFF (adjective form) describes the kind of information.  This statement should be written as follows:

NOTE: The ending balance is probably not the same as the amount to pay off your loan. For payoff information, you may use our 24-hour automated information system at ….

This may not seem like a glaring error, but it is an error and reflects poorly on the professionalism of the bank.

 

 

  


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3 Responses to “PAY OFF? or PAYOFF? Major lender forgets the difference.”

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