Derechinsky v. Epstein

The bill in this cause was filed for the foreclosure of a purchase-money mortgage given by Louis and Dora Epstein to the complainant. The mortgage contained the usual thirty days' interest and ninety days' tax, water rent and assessment clauses. The taxes and water rents remaining unpaid for more than ninety days after they became due, the complainant says that this gave him a right to file his bill before the due date mentioned in the bond and mortgage.

Prior to the filing of the bill the mortgage had been assigned to the defendant Blumenthal as collateral security for the payment of a debt…