Waterloo Savings Bank v. Carpenter

The Waterloo Savings Bank foreclosed a first mortgage upon certain real estate and purchased the property under sheriff’s sale, October 17, 1941, for $8,704.55. Ross H. Comly, executor of the estate of C. IT. Oomlv, deceased, which held a second mortgage upon said property, was a party defendant. Said estate assigned said second mortgage to a third party who foreclosed the same by cross-petition in said principal case, purchased the property at the execution sale on November 29; 1941, for $3,079.01, and assigned said (junior) certificate of sale to appellee, Ross H. Comly.

December 3, 1941,…