Smith v. Swendsen

October, 1931, appellants owed R. C. Little a balance of $29,500 on a purchase price first mortgage on an apartment house; a second mortgage of $10,000 originally given to Sudler, Epperson, Grubb & Company assigned to appellant W. G. Swendsen November 8., 1930; and a third mortgage due Hugh F. Smith in the sum of $3,500. Appellants were delinquent in payments of principal and interest on the first mortgage and feared foreclosure thereof. After unsuccessful attempts to refinance by securing a loan sufficient to take up all the outstanding indebtedness, and after a series of negotiations…