A 10 day payoff is crucial to getting your old loans paid off during a refinance. Learn how it works from start to finish.A lender's payoff statement or letter will show the amount you need to pay to completely close out the loan. Below is a list of frequently requested Human services forms. Click on the form to complete and print. You can use SoloSuit's Answer Form to respond to a debt collection Summons in Minnesota. Find information about the foreclosure sale process and redemption process. Mortgage foreclosures are legal actions taken to foreclose on real estate. 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.