Federal National Mortgage Ass'n v. Chandkok
Louisiana Court of Appeal
1Opinion of the Court
BYRNES, Judge.
Purchasers of immovable property who assumed a mortgage appeal a summary judgment casting them for the balance due in an action by the holder of the promissory note.
On May 27, 1980 defendants, Surjit and Kaval Sethi executed a promissory note in the amount of $177,260 payable to Lau-rance Eustis Mortgagee Corporation (“LEMC”). On the same date the Sethis’ note was secured by a mortgage in favor of LEMC on 7720 North Coronet Court, property located in New Orleans East. Thereafter, LEMC assigned the note to Federal National Mortgage Association (“FNMA”) on June 6, 1980.
In March,…
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