Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.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. Find and fill out the forms you need. A mortgage payoff statement details the total amount needed to fully pay off a loan as of a specific date. One of the simplest redemption methods is applying points towards your credit card statement. Knoxville TVA Employees Credit Union offers personal and business checking, savings and loans to the East Tennessee area. At AMOCO, we have financial products and services to fit your needs. Actions from an error in a payoff statement.