What to expect, when to discharge your mortgage, how much it costs and where to get more information. Make extra monthly payments.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. The one-time, federally funded California Mortgage Relief Program has awarded all homeowner grants and will not receive any more funding. California requires lenders to request within 30 days after the loan has been paid off that the trustee executes a deed of reconveyance.