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.Value of Real Property or Mortgage Foreclosure Claim You must fill out and submit this form with each new action. Hillsborough County Discharge of Mortgage Form. Fill in the blank form formatted to comply with all recording and content requirements. The bank is required to prepare and record in the public records where the property is located a "satisfaction of mortgage." A Mortgage Letter provides confirmation for your lender that your homestead exemption has been approved along with an ad valorem estimate of your tax bill. Financial Resources Federal Credit Union located in Branchburg, Hillsborough, Flemington, Somerset, Green Brook, Jersey City, Elizabeth, NJ. We're Here When You Need Us ; Hillsborough County 813.837. 2451 ; Manatee County 941.827.