United States v. Merrick Sponsor Corp.

MEMORANDUM AND ORDER

TRAYIA, District Judge.

MERRICK SPONSOR CORP. (MERRICK), the mortgagor of certain premises located in New York, New York, defaulted on its note and mortgage, which mortgage was insured by the Federal Housing Commissioner. The mortgagee assigned its rights in the mortgage and note to the Federal Housing Commissioner, and the UNITED STATES brought a foreclosure action. A default judgment was entered which provided that

if the proceeds of such sale be insufficient to pay the amount due to plaintiff with interest and costs * * *, *1050the Master shall specify the amount of such…