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.Pay in person at the Cashier's Office in the Mecklenburg County Courthouse. There is an ATM located on Level 2 for your convenience. 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. 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 10 day payoff is crucial to getting your old loans paid off during a refinance. Learn how it works from start to finish.