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.A 10 day payoff is crucial to getting your old loans paid off during a refinance. Learn how it works from start to finish. Fill out this form to apply. DOWNLOAD. Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. Mortgage payoff requests: Submit a Payoff Request Form via email or fax. A mortgage payoff statement can be a useful piece of documentation for some borrowers to request. Forced Mortgage Payoff.