This is a sample Florida mortgage payoff authorization form and should not be used or relied upon for any real estate transaction. 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. A mortgage lender might ask you to write a letter of explanation to better understand your finances when deciding whether to approve you for a loan. This estoppel letter MUST be sent within 14 days of the request or there is a risk of sanctions, including monetary penalties. It also often gives information on how best to deliver the payoff funds, etc. It's more akin to a form letter, rather than a periodic statement. Also, read about what you may need for mortgage assistance. This form is a statement of final loan terms and closing costs. Create a Loan Payoff Letter online and download it as a PDF or Word document.