Grubert v. Cosmopolitan National Bank

Defendants, Cosmopolitan National Bank of Chicago (Cosmopolitan) and Juliette Kevorkian, are mortgagors of real property that was purchased by the plaintiffs-mortgagees, Gordon J. and Susan Grubert, at a judicially ordered foreclosure sale. The other named defendants failed to appear and were subsequently defaulted.

On appeal, defendants argue that the trial court’s order confirming the sale improperly reduced the price which plaintiffs bid for the property at the sheriff’s sale. Plaintiffs argue that the order was proper because defendants consented to the price reduction. We reverse the…