"I paid off the old mortgage, O ye of little wit."

Building A has an old mortgage reduced to $340,000 and self liquidates in 1993.

But by that time, 15,113 of the old mortgage and rental assistance applications had already been mailed out.

If they had kept their old 30-year mortgage at the higher rate, they would have paid a total of $509,162 - almost twice as much.

The choice was to assess each unit owner or refinance the old mortgage.

The burning question now is: Should I forget about destroying the old mortgage and get a brand new one?

The old mortgage is then amended to conform to the terms of the new deal.

"They paid off her old mortgage, which only had $6,828 left and would have matured in 2001."

Title companies now routinely charge $100, instead of $25, to have at the closing a representative who can retire the seller's old mortgage.

The result was the full repayment of the old mortgage on November 23, 1942.