Access our financial planning and report fraud forms and submit online. 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. Middlesex County Release of Mortgage Form. Fill in the blank form formatted to comply with all recording and content requirements. Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free. MassHousing is a mortgage lender.