15years ago i bought a motel in mississippi on a owner finance deal,iowed him $340,000 at 10.50 intrest but the amortirazion came in almost...

Question

15years ago i bought a motel in mississippi on a owner finance deal,iowed him $340,000 at 10.50% intrest but the amortirazion came in almost $40 per month more than it shouls have been,so i on correct recalculation i paid off in 177 instaments instead of the 180 payments i singed for on a promisory note .my question is am i still liable to pay the full 180 payments or have i paid off my load now that its established the original amotirztion shedule was incorrect

Answer

Has the debt been totally paid? Much depends on the definition under the original contract. Without seeing the original contract I cannot answer. Please consult with an attorney to give you a proper answer