A demand for payment may be requested for a real estate transaction, bulk sale, or liquor license. In each case, a demand for payment is a payoff request.A mortgage payoff letter can come in two forms. One form tells borrowers the remaining principal amount and interest they have to pay to close out the loan. Mortgage lenders ask for a letter of explanation to better understand your finances when determining whether to approve you for a loan. Step 1: Get the payoff amount and instructions. Learn what a mortgage payoff statement is, how to request one, and and what to do if your mortgage servicer fails to send it. Set up single payment or automatic, electronic withdrawals. View scheduled transfers and payments for all your Wells Fargo accounts in one place.