Philadelphia Acceptance Corp. v. Krapf

BIEHN, J.,

On or about August 30, 1982, defendants John L. Krapf, Jr. and his wife, Roseadell M. Krapf, executed a mortgage and note on their property at 29 Shelter Lane, Levittown, Bucks County, Pa. The mortgage and note were made to secure payment of an underlying business loan from plaintiff, Philadelphia Consumer Discount Company. From the time of the loan, September 28, 1981, for approximately one year, monthly payments were remitted by the Krapfs. Subsequent to November 3, 1982, however, no further payments have been made; therefore, on March 10, 1983, Philadelphia Consumer Discount…