A 10day payoff refers to the time it takes for your new lender to pay off your old loans during a refinance. 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. Discover more about per diem interest—the daily interest on a loan that occurs outside of the standard repayment period. It's the payoff amount 10 days in the future. Please contact Customer Support at 877-672-2265 to request the payoff amount for a Mortgage and Home Equity Line of Credit (HELOC). Personal and Auto Loans By including a per diem amount in the letter, the parties will not have to execute another payoff letter if the termination date. A 10day payoff statement tells you the amount you owe toward your loan in order for the loan to be closed and marked as "paid in full." The release is what removes the lien, which in your case isn't there.