Send mortgage payoff letter template via email, link, or fax. You can also download it, export it or print it out.A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. A letter of explanation can clarify your financial situation and get you one step closer to qualifying for a mortgage. 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 collection of all the forms and and documents that are posted on the San Diego Housing Commission's (SDHC) website, listed in one location. The purpose of the letter is to describe why the borrower may not be able to make their mortgage, car loan, or other debt payments.