At the time of purchase Shift will collect a 10 day payoff statement for your loan. Following the 24 hour inspection window, Shift will initiate payment to your lender to close out your loan. This will include any underwater payment you paid to Shift.
The payment in almost all cases will arrive at the lender within the 10 days the payoff statement is good for. Unforeseen circumstances such as shipping delays, or lender bandwidth constraints could impact the payoff timeline.
If you have a payment due during the 10 day payoff period, or one is immediately coming up and you do not see the loan is paid off — please make the payment due. Once the payoff is received, you will be refunded by the lender the overage, and you will not incur any credit issues due to late payment.