Schwind v. Mattson

Mr. PRESIDING JUSTICE HAYES

delivered the opinion of tire court:

On 16 July 1971, Chicago Federal Savings and Loan Association instituted an action in the Circuit Court of Cook County, Chancery Division (71 CH 1416), to foreclose its mortgage on the residence of Marvin and Dorothy Mattson. The decree of foreclosure issued on 16 December 1971 and the property was sold on 1 February 1972. At the sale of the property, Chicago Federal was the highest bidder, bidding $34,807. That figure was the amount of the balance of the debt secured by the mortgage. The Mattsons’ statutory right of redemption…