Rafel v. Maurer

This action is brought to foreclose a mortgage, and the only question to be determined is as to the liability of the defendant Maurer for the deficiency. The mortgage was made by the defendant Maurer for the sum of $4,000, with interest at the rate *622of four and one-half per cent. Subsequently he transferred the property to the defendant Stokes, and the rate of interest at that time was five per cent. On September 15, 1914, plaintiff wrote a letter to the defendant Miss Stokes notifying her that the rate of interest on the mortgage from October 1, 1914, would be six per cent. There was no…