Marken v. Buchanan

The parties entered into a contract for deed on July 31, 1975, with plaintiffs as sellers and defendants as buyers. The contract price was *16,500, payable as *3,500 down and the balance payable- in monthly installments at 8.5% interest. In addition, buyers agreed to pay sellers *35 per month for application in the payment of real estate taxes.

The buyers fell into default in late 1977 and early 1978. Plaintiffs’ attorney sent defendants a letter on April 11, 1978, giving- defendants 60 days within which to cure their default and make their payments current. Defendants failed to do so and, on August…