My mortgage company filed a Discharge of Mortgage with my local Recorder of Deeds a few years ago. I just found it again. At the time I received it, I called to inquiry about it and they said "Just ignore that, we don't know why that letter was sent." Am I still responsible for the mortgage even though the county records show the mortgage as discharged?
Answer
The situation does not alter the debt but it could alter the security for it. That might affect future lenders. In theory, it converts the secured loan into an unsecured loan. Unless you intend to borrow beyond your means, it does not have much effect on your situation unless you go into bankruptcy. In that case, be sure to point it out to your lawyer.
See also: http://info.corbettlaw.net/lawguru.htm
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