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.Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. Any person requesting to modify or reestablish a Payment Agreement for Fines, Costs, Forfeitures and Penalties must complete the. If you can't pay in full, you may be able to set up a payment plan. Make additional payments; Set up a payment plan. You may also call our Customer Service Contact Center to request a Consolidated Bill Notice. What it considers to be a loan commitment letter. Your payoff quote includes the payment amount, interest and any fees you owe.