Herman Hughes Lumber Co. v. Wood

George Hoffman and wife gave a first mortgage of $3,000 on their property, and subsequently defendants became holders of' the mortgage. The Hoffmans also gave a second mortgage to plaintiff in the sum of $3,200. Defendants’ first mortgage, after being reduced by payments to $1,187.25, was duly foreclosed by advertisement. The property was bid in by defendants for $1,293.55, a sum less than its actual value. Nine days prior to the expiration of the period of redemption, the Hoff-mans filed a bill for moratorium relief. An order was entered extending the period of the equity of redemption until…