Garrett v. Federal Land Bank of New Orleans

BOULDIN, Justice.

The bill was filed by appellant to effectuate his statutory right of redemption in real estate, sold under mortgage. Complainant is the mortgagor. The question of moment on this appeal is whether there was error in decreeing the unpaid balance of the mortgage debt to be a lawful charge on redemption.

The controlling facts, as we view the case, are these:

On March 28, 1936, the mortgage being in default, the mortgagee, Federal Land Bank of New Orleans, foreclosed under power of sale and became the purchaser at $2,000, leaving an unpaid balance on the mortgage debt of $2,987.07.

So…