Metropolitan Life Ins. Co. v. Morris

ODOM, Justice.

In October, 1930, the defendant became indebted to the Metropolitan Life Insurance Company in the sum of $18,000, for which he executed a note secured by mortgage on his residence in the city of New Orleans. He failed to pay certain installments due on the principal of the debt, as well as interest, and on June 7, 1934, the insurance company brought foreclosure proceedings by executory process. Defendant’s property was seized and advertised for sale. Pending these proceedings the Legislature, at its regular session of 1934, adopted Act No. 159, known as the “Mortgage Moratorium…