This form is furnished to give you a statement of actual settlement costs. Requests may be sent to State Home Mortgage via email, as long as the form is completely filled out.A lender's payoff statement or letter will show the amount you need to pay to completely close out the loan. The optional method allows you to deduct the mortgage interest and state and local real property taxes reported on Form 1098, Mortgage Interest Statement. This form is a statement of final loan terms and closing costs. Compare this document with your Loan Estimate. Learn what a mortgage payoff statement is, how to request one, and and what to do if your mortgage servicer fails to send it. To pay your mortgage loan in full, a payoff statement is required. Many states can collect tax debts for longer than the IRS, which will generally stop pursuing a debt after 10 years. We'll even send you an additional card in the authorized user's name.