This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,.A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. Get answers to your questions about paying off your mortgage. How can I request a payoff statement? This site will become your go-to platform for filling out as well as signing legal forms. You can electronically sign both personal and business documents such as contracts, invoices, school forms, leases, and banking forms. If you receive this form in a small claims case, contact a lawyer.