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. First you need to know what the payoff figure is. Include the loan or mortgage number. This page contains a list of titles covering home foreclosure information. If you know you're not going to be able to keep up with your loan payments, you might be better off selling the car yourself and paying off the debt. If you receive this form in a small claims case, contact a lawyer. Financial Aids programs.