<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by tina6927:
our ex landlord who we bought our house from had ussign a second mortgage with him for the remaining balance owed on the property that the lending company didn't pay. since then we have re-financed our house, to do this our ex landlord had to release the mortgage that he had in order for us to get this loan. But, now he claims that we still owe him 1.500 dollars are we still liable to pay this even though he released the mortgage he was holding?<HR></BLOCKQUOTE>
If a Release of Mortgage document was signed and recorded on title, and L has no legal interest in the party as a creditor, then you do not owe him anything. Even if he forgot to charge you interest, was never paid the principal etc. in the amount of $1500 the deal has already been closed and done.
If you really owe him the money and promised to pay him later but needed him to release so your loan could be closed, then pay the money. He could file a small claims action.
