Prudential Insurance v. Schaefer

This action to foreclose a real estate mortgage was commenced in the district court of Lyon County, Iowa, for the April, 1937, term. The action was based on a promissory note for $10,000 dated in 1926, and upon which there was due at the time of the commencement of the action $10,361, with interest from January 1, 1936. The note was secured by a mortgage upon 189 acres of farm land in Lyon County, Iowa. The evidence shows the value of this land to be from fifty to seventy-five dollars per acre. And the evidence shows that the defendant-appellee, Frank Howard Beck, was possessed of farm…