Farmers & Mechanics Savings Bank v. Eagle Building Co.

This action was brought to foreclose a mortgage. Before the judgment of foreclosure and sale was entered, the various parties, by stipulation, reserved for future consideration two questions: (1) The amount of the deficiency, if any, and (2) the liability of certain guarantors for the same. The property was sold to the plaintiff for $25,000, leaving a deficiency of over $12,000, and both questions must now be decided.

Upon the application of certain of the defendants, who are guarantors of the payment of any deficiency judgment which might be obtained, the court fixed, in advance of the sale,…