Platte Valley Federal Savings & Loan Ass'n v. Gray

Defendants appeal from an order granting plaintiff’s requested decree of foreclosure on certain residential real property and denying defendants’ counterclaim for rescission.

On May 7, 1982, Marvin E. Ziegler and Carol A. Ziegler executed a note to plaintiff for $66,000, secured by a mortgage on certain residential real property. On June 25, 1982, defendant Marjorie L. Gray contracted to buy that property from the Zieglers, subject to the mortgage to plaintiff. Then, on June 30,1982, plaintiff issued a mortgage loan commitment to Gray and August R Goltl. This commitment had a notation as…