Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.Under certain circumstances, New York State may grant you a release of lien or subordination of lien if you are unable to pay your warranted balance in full. Edit, sign, and share sample payoff letter for private mortgage online. No need to install software, just go to DocHub, and sign up instantly and for free. A mortgage lender might ask you to write a letter of explanation to better understand your finances when deciding whether to approve you for a loan. Say you have a mortgage and want to know exactly how much you'd need to pay to satisfy the loan. A mortgage payoff letter will tell you that magic number. I make this affidavit with the approval of the Estate or Trust, in order to induce New York Title. A tax warrant is equivalent to a civil judgment against you, and protects New York State's interests and priority in the collection of outstanding tax debt.