First Trust Co. v. Stenger

This is a mortgage foreclosure suit in which a decree was entered June 12, 1934. The statutory nine months’ stay *751was taken, after which an order of sale was issued, and the property was sold to plaintiff, the highest bidder, on May 7, 1935, for $39,800. Thereafter, on June 11, 1935, one of the defendants made an application that all proceedings be stayed until March 1, 1937, under section 20-21,159, Comp. St. Supp. 1935, known as the mortgage moratorium law. Objection's to this application were filed by the plaintiff, one of which is that the applicant has no equity in the land, and that the…