By including a per diem amount in the letter, the parties will not have to execute another payoff letter if the termination date. To get a payoff letter, ask your mortgage lender for an official payoff statement and let them know what the projected closing date is.Please accept this as my authorization to issue a payoff statement to. Through an effective date of . What is a Payoff Agreement? A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. The title company asked us for a payoff demand. They requested that we use their payoff statement since we held the note as trustees of our living trust. Request your free payoff quote in one of two convenient ways. You'll choose your good-through date up to 30 days.