To sum up, I am writing this letter to inform you that I wish to foreclose the loan. Moreover, my loan ID is xxxxx and I opted for (no.Loan Foreclosure Letter Format Samples. The loan foreclosure request letter format is pretty simple if you have all the details with you. Customer: I had an auto loan with Harris NA in 2008-2009. I got a letter from Harris NA indicating that I had indeed paid off the loan. If yes, just visit the bank with a letter that you want to foreclose the loan as per para 123 of the Loan document. If you've stopped paying your creditors for unpaid debts, they will likely report your account as a charge-off after four to six months of non-payment. Notice(s) in a newspaper of general circulation in the county in which the vehicle is stored may be used only if all of the following apply: 1. Forbearance is a form of repayment relief involving temporarily postponing loan payments, typically for home mortgages or student loans.