Makar v. Peoples Wayne County Bank

On March 30, 1927, Joseph Makar and Amelia Makar, his wife, gave a real estate mortgage to the Wayne County & Home Bank of Fordson, now known as the Peoples Wayne County Bank of Dearborn, to secure payment of the sum of $5,000. Because of default, defendant foreclosed and on August 14, 1936, bid in the property for the sum of $6,441.55 at the mortgage sale. Expiration of the period of redemption was August 14, 1937. On July 29, 1937, plaintiff filed a petition for moratorium in the circuit court for Wayne county, and an order was issued requiring defendant to show cause why the relief prayed…