By including a per diem amount in the letter, the parties will not have to execute another payoff letter if the termination date. Please accept this as my authorization to issue a payoff statement to.Through an effective date of . The statement includes information and formulas to calculate on a per diem basis the payoff amount after the date it is issued. The release is what removes the lien, which in your case isn't there. It typically details the principal balance, interest due as of that date, per diem, any late fees, etc. A 10 day payoff is crucial to getting your old loans paid off during a refinance. Learn how it works from start to finish. To get a payoff letter, ask your mortgage lender for an official payoff statement and let them know what the projected closing date is. I'm working to buy a house from a distressed homeowner, help her avoid foreclosure.