Benjamin Franklin Federal Savings & Loan Ass'n v. Parker

Defendants Eugene and Martha Parker (defendants) 1 appeal from a judgment which upheld plaintiffs acceleration of a note made by both defendants and a mortgage given by Martha alone to secure the payment of a loan from plaintiff. Plaintiff accelerated the obligations, because defendants sold the property on contract without first obtaining plaintiffs approval, as the mortgage required. The court awarded plaintiff a money judgment against defendants and ordered foreclosure of the mortgage to pay the judgment. The issue is whether plaintiff had the right to accelerate. We hold that it did and…