A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. How to fill out the Payoff Request Letter Templates?Please provide payoff information for the above referenced mortgage. Also, please provide loan number and per diem interest. 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. A mortgage payoff statement can be a useful piece of documentation for some borrowers to request. The Loan Payoff Request Form is a vital document for borrowers who wish to obtain a mortgage payoff statement from Seneca Mortgage Servicing LLC.