The mortgagor may send a notice to the mortgagee to present for recording a satisfaction piece to avoid damages. Loan payoff statements tell borrowers how much they must pay to close out a loan.Due to interest, etc. Do you need a loan payoff request form? The Recorder of Deeds Office is open from Monday through Friday, 9 a.m. Mortgage payoff: The seller will receive a payoff letter from their mortgage company, and the existing loan will be paid at closing. It's a statement that breaks down the payoff figure for the loan assuming no intervening payments, on a future (specified) date.