Aurora Loan Services, Inc. v. Frank Craddieth and Peggy Craddieth, Appeal Of: Midwest Real Estate Investment Company, Intervenor-Appellant
Court of Appeals for the Seventh Circuit
1Opinion of the Court
POSNER, Circuit Judge.
This appeal by Midwest Real Estate Investment Company arises out of a diversity suit to foreclose a mortgage that Aurora, the plaintiff, had on the Craddieths’ home. The substantive issues are governed by Illinois law.
The suit was filed, and a foreclosure judgment entered, in 1999. But for reasons that are unclear, the foreclosure sale was not conducted until October 2004. Midwest was the high bidder, bidding $107,818.44. (The appraised value of the property was $170,000.) However, two or three weeks before the sale the Craddieths had obtained alternative financing that…
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