Hudson City Savings Bank v. Brockhurst

The bill of complaint is to foreclose ten mortgages on five parcels of real estate in Jersey City. The answer alleges that the filing of the bill is premature since the maturity date of all the mortgages was extended.

Five of the mortgages were each given to secure $6,500 dated February 14th, 1921. The other five mortgages were each to secure $1,200 dated July 1st, 1936. The parties treat the indebtedness as one transaction.

By mutual agreement the rate of interest was reduced to four per cent. on the indebtedness as of January 1st, 1938. In September, 1938, the parties agreed on monthly…