Irving Trust Company v. Atwood

In 1927, the defendant purchased for $28,000 a dwelling house located ait 119 Eilburn Road in the town of Garden City, county of Nassau and state of New York. At that time there was a first mortgage upon the property. The defendant was not the maker of this mortgage. At some time prior to May 3, 1930, the plaintiffs became the owners of the first mortgage. On that date the patties entered into an agreement whereby the time for payment of the mortgage was ex tended in consideration of the defendant’s promise to assume and pay it. The defendant lived in the house with her husband until 1940. He…