Prudential Insurance Co. of America v. Claassen

Some time in April, 1917, John McCarthy, the appellee in this cause, became the owner of the following described real estate:

North fractional half of the Northeast Quarter of Section 1, Township 80, North of Range 39; also the West fractional half of the Southwest Quarter of Section 31, Township 81, North of Range 38, Shelby county, Iowa.

And shortly thereafter obtained a loan of $20,000 from the Prudential Insurance Company of America, secured by a first mortgage upon the above-described real estate. McCarthy defaulted under the terms of the mortgage, and the mortgage was foreclosed,…