Majer v. Fosseen

Plaintiffs Majer appeal from a judgment denying them, after expiration of the statutory 1-year redemption period, the right to redeem certain real property sold in a mortgage foreclosure proceeding.

The sole issue is whether the court abused its discretion in refusing to apply equitable principles and allow the redemption. This issue is presented on stipulated facts.

On August 27, 1960, plaintiffs executed a promissory note in favor of Securities Intermountain, Inc., secured by a mortgage on their family home. The note and mortgage were assigned by Securities Intermountain to Northwestern…