Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.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 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 City of San José processes requests for payoff demands of existing homebuyer and home repair loans, and affordability restrictions (i.e. When you owe tax debt, we automatically have a statutory lien that attaches to all California real or personal property you own or have rights to.