Minneapolis Investment Co. v. National Security Investment Co.

The defendant Harry Harper & Associates, Incorporated, appeals from the order denying a new trial.

The action is to foreclose a second mortgage for $112,500 on a property in Minneapolis known as the Antlers Apartments. There is a first mortgage of nearly $70,000 unpaid. Appellant took a third mortgage of $12,000. The property is estimated to be worth no more than $130,000. It is thus seen that there is no hope for appellant to realize anything out of the security by redemption, nor any inducement to pay delinquent taxes or defaulting interest and instalments upon the prior mortgages and…