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.Please review the Sample Setup Form found in the following pages of this guide to ensure you are able to complete the Setup Form in one sitting. 6. Establish property records and record real estate transactions within Hennepin County. One of the major priorities of the U.S. Department of Housing and Urban Development (HUD) is the creation of affordable housing.