Dunlap v. Chenoweth

Backes, V. C.

This is the usual foreclosure bill and the defence is usury. The bond and mortgage were made by the defendant Emma L. Chenoweth to Horace E. Nixon, a member of the Camden bar, who evidently deals extensively in mortgage investments. According to his own statement, he has negotiated loans for more than nine million dollars, mostly in small sums. Mrs. Chenoweth, sorely pressed by creditors, applied to him for a loan of $12,000 *497on lier home in Woodbury, and agreed to pay him $240 to procure it. The mortgage was to be for one, two or three years at five per cent., if possible; if…