Fruzynski v. Jablonski

The opinion of the court was delivered by

Lloyd, J.

Appellants were the holders of a bond executed by Stanley Phillips and wife and the respondent, Andrew Jablonski, the bond being secured by a mortgage on premises in the city of Newark. Default in payment of interest and taxes resulted in foreclosure of the mortgage, a decree in favor of the complainants and a sale of the property to the mortgagees for the nominal sum of $100. This sale was confirmed by the court of chancery on February 18th, 1933.

The mortgage was subject to other mortgages aggregating $25,500, but which at the time of the…