Loomis v. National Supply Co.

The opinion of the court was delivered by

Mason, J.:

A real-estate mortgage was foreclosed and the property was sold at sheriff’s sale, on June 16, 1913, for $5800, subject to redemption under the statute within eighteen months. On December 11, 1914, the representative of the holder of the right to redeem deposited with the clerk of the court for the purpose of effecting redemption the sum of $6302.66, in addition to the accrued costs. This, deposit was less than the required' amount because the interest was computed at six per cent instead of seven, which was the rate *280named in the mortgage,…