Kaufman v. Jared Flagg Corp.

In this action to foreclose two mortgages, one a so-called trust mortgage in the sum of $20,000, and the other, a so-called equitable mortgage in the sum of $40,000, the issue presented is whether such mortgages are subordinate to a certain consolidated mortgage owned by the defendant West Side Savings Bank, and to four mortgages owned by the defendant Levi. It has been adjudged that plaintiffs’ mortgages are subordinate to those of the defendants. The result in brief has been that the mortgage of the West Side Savings Bank has been given priority over all others involved; the four owned by…