Glendale Federal Savings & Loan Ass'n v. Guadagnino

BERANEK, Judge.

This appeal involves a junior mortgagee’s right to redeem in a foreclosure action. Glendale Federal Savings and Loan Association (senior mortgagee) instituted foreclosure proceedings against the Guadagninos (mortgagors), Merrill Bookstein (junior mortgagee), and others. Final summary judgment was entered in favor of Glendale Federal Savings and Loan Association. The property was then sold to Glendale who was the highest bidder at the foreclosure sale. Bookstein did not attend the sale or bid on the property.

Subsequent to the sale, but prior to the issuance of the certificate of…