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?The City of San José processes requests for payoff demands of existing homebuyer and home repair loans, and affordability restrictions (i.e. LOAN PAY-OFF REQUEST FORM. This form must be completely filled out and submitted along with all required documents. This post highlights the rules that apply when exchanging property with a mortgage and provides a few examples for clarification. Edit, sign, and share payoff form online. No need to install software, just go to DocHub, and sign up instantly and for free. Step 1: Get the payoff amount and instructions. Loan servicing and loan modification information from Carrington Mortgage.