Sambor v. Home Owners' Loan Corp.

The sole question presented by this appeal is this: Does the 1937 mortgage moratorium law (Act No. 1, Pub. Acts 1937) provide for moratorium relief incident to the foreclosure of mortgages executed subsequent to February 14, 1933? The circuit judge held that the statute was not applicable to such foreclosures. Plaintiff, who is seeking moratorium relief, has appealed.

In this State mortgage moratorium legislation had its inception in Act No. 98, Pub. Acts 1933 (Comp. Laws Supp. .1933, §14444-1 et seq.). Amendments followed in Act No. 20, Pub. Acts 1934 (1st Ex. Sess.), Acts Nos. 3, 158, Pub.…