First Colonial Bank for Savings v. Bergeron

Coven J.

This is an action in interpleader brought by First Colonial Bank for Savings to determine who is entitled to certain surplus funds resulting from a mortgagee’s sale of real estate. The defendants-in-interpleader, Robert H. and Sherrell L. Bergeron ("the Bergerons”), have appealed the allowance of a motion for summary judgment on behalf of Ford Consumer Finance Co., Inc. (“Ford”).

The Bergerons executed a mortgage to First Colonial Bank for Savings, formerly the Lynn Five Cents Savings Bank, and subsequently executed a second mortgage to Ford Motor Credit Company, now held by Ford. On…