Good point, Clanci. I remember a friend of mine asked me for my advice on a property he was selling.  He had a mortgage to an out-of-business lender; in fact, the lender was sitting in jail for mortgage fraud.  He paid the loan off, but the release was never filed.  The title company told him that they wouldn't close unless he could provide a release.  I told him that they should file a quiet title action to clear the title for the buyer - else that could haunt them for some time to come.  Eventually, the title company just accepted his affidavit that the loan was paid and they insured over it.  I hope that doesn't come back to bite them later.

Best,
Robert A. Franco
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