Mickelson v. Duluth Building & Loan Ass'n

This was an action by a borrowing member of the defendant association to recover an alleged surplus realized on a mortgage foreclosure sale over and above the amount due on *536the mortgage. The principal question discussed by counsel was the proper mode of computation to be adopted in determining the amount due on the mortgages of defaulting borrowing members; and it was stated that, while the amount involved is small, this case is important, as the decision will determine how the defendant, under its scheme, must compute the amount due on other mortgages. The schemes of modern building…