Gerasimos v. Continental Bank

This bill is filed to enforce a claim of right to redeem certain premises, described as 541 Monroe avenue in the city of Detroit. In December, 1921, plaintiffs were owners of said premises subject to a mortgage for $20,000 given to the Prudential Life Insurance Company of New Jersey, bearing interest at the rate of QJ/%% per annum payable semiannually. On April 22, 1922, they had also given a second mortgage on said property to defendant Continental Bank for the sum of $5,000. Plaintiffs defaulted in the terms of the $20,000 mortgage to the Prudential company and it was foreclosed by…