Hensel v. Cahill

Opinion by

Hirt, J.,

Plaintiffs on April 30, 1946, gave a mortgage on their property in Philadelphia in the sum of $2,000 with interest at 5% payable “within fifteen years in monthly installments of $15.82 each.” In September 1949 they sold the land and under the terms of sale were obliged to deliver title free and clear of the above encumbrance. The defendant holder of the mortgage, agreed to accept $1,683.70, the balance of unpaid principal and $233.64 as interest, computed at the rate of 2%% thereon for the balance of the term of the mortgage. Plaintiffs paid these amounts and the defend ant…