Investors Savings Bank v. Phelps

Sanders, Chief Judge:

This is an appeal from an order of the Master-in-Equity setting aside a foreclosure sale. On the thirtieth day after the sale, appellant Johnny M. Flynn, a stranger to the mortgage being foreclosed, bid $510 for the subject property, outbidding by $10 the previous bid of the mortgagee, respondent Investors Savings Bank. The Master granted the motion of Investors to set aside the sale. We affirm.

Investors instituted the action for foreclosure of its mortgage, demanding a deficiency judgment. According to the amended complaint, the mortgage had a balance due of $52,369.80,…