Lowe v. Swafford

On the 6th day of December, 1932, Frank Swafford filed an action in the Lake Superior Court to foreclose a mortgage upon real estate, together with the rents and profits thereof, which mortgage was executed to the First Trust and Savings Bank of Hammond, to secure the payment of a loan to the mortgagors, Isadore Zeplovitz and wife, in the sum of $55,000. The loan was evidenced by notes or bonds, each in the sums of $500 and $1,000 respectively. The notes or bonds were payable serially.

The plaintiff in the foreclosure action alleged that he was the owner of the first two bonds falling due. He…