Merchants', C., Realty Co. v. Stern

This is a bill to foreclose a second mortgage, filed June 26th, 1926. A receiver to collect rents, c., was appointed on September 14th, 1926. He took immediate possession of the mortgaged premises, an apartment house, and collected the rents until foreclosure sale on June 7th, 1927, amounting to $2,785.71. The complainant purchased the mortgaged premises at that sale at a sum which left a deficiency of over $15,000 on his decree. The claimant, Paramount Investment Corporation, on October 28th, 1926, purchased the mortgaged premises at a tax sale for delinquent taxes for 1925 in the amount of…