Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.Make math easier with these free calculator templates. Check out our loan payoff statement template selection for the very best in unique or custom, handmade pieces from our templates shops. 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. This letter is to let you know that I'm currently having some financial difficulties. I'm not able to pay the complete monthly payment on my account because . Check out our loan payoff template selection for the very best in unique or custom, handmade pieces from our templates shops. Temporarily reducing payments.