Kennedy v. Kay

This is an appeal from a post decretal order which denied a deficiency decree, in a suit for foreclosure of a third mortgage on certain real estate. The amount due under the decree was $11,388.67. The property involved was bought in on the foreclosure sale by the plaintiff-mortgagee for $7,000 subject to two prior mortgages on which the unpaid balance aggregated $41,-200, leaving a deficiency sum of $4,388.67. There was evidence that the equity in the property, that is, the value above the outstanding mortgage indebtednesses was in excess of $27,000. This and other facts and circumstances…