Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free.Learn what a mortgage payoff statement is, how to request one, and and what to do if your mortgage servicer fails to send it. What is a Payoff Letter? A payoff letter provides instructions on how to pay off a loan with a lump sum before the loan term ends. Learn how payoff letters work. What to do if a car dealer does not pay off the loan on your trade-in. What Is a Car Title, and Why Is It Important? A car title is a legal document that shows who owns a vehicle. Buy a home with the right mortgage for your unique needs.