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.I asked them to send us a letter to show that it's been paid off. The rep said they "don't do that" and the'll report it to the agencies in 30-90 days. A 10 day payoff is crucial to getting your old loans paid off during a refinance. Learn how it works from start to finish. Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. Your local credit union - offering personal and business banking solutions from checking and savings accounts, loans, mortgage options, and more! At one point in the eighteenth century, a coalescent com- munity of Saponi, Tutelo, and others were settled at.