Apartment syndication refinance and release question

[Account Closed]

We are part of an apartment syndication in a lender position, not equity position. We received interest for quite awhile with January being the last time we received any. During the course of this, they re-wrote the paperwork to change the interest from 12% to 7% which we agreed to get when they refinanced based on having the property more substantially leased. Now they are saying that we have to sign a release form that says we agree that they don't have to pay us the interest owed to us for February-July and that we will not sue them, stating that the title company HAS to have this release signed by all lenders to approve the refinance in order to start getting payments again. Is this true or is this company trying to pull a fast one on us?

[Greg Dickerson]

@Account Closed this is completely false. All they have to do to is pay the loan in fill as it is recorded.

You need to talk to an attorney ASAP.