The dealer must, within 7 days, notify the lien holder in writing that the vehicle has been traded in. A 10day payoff refers to the time it takes for your new lender to pay off your old loans during a refinance.I paid off my car loan. The lienholder sent me the title and signed the request for lien change section. Each January a year-end summary for the previous year, including the IRS 1098 Mortgage Interest Form, will be mailed to you. A mortgage payoff statement details the total amount needed to fully pay off a loan as of a specific date. Visit the Tax Commission forms site to get any forms or publications that you need. Do I need to mail this title along with a form in to get them officially released? Fill out this form to authorize UFCU to release your vehicle loan payoff balance. PRMI has become aware of certain unauthorized third parties reaching out to PRMI borrowers claiming to be affiliated with PRMI.