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Bank seeks recovery from mortgagor’s wife
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Court Report
Wednesday, November 29, 2017
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A man refinanced the loan on his property as a sole mortgagor-grantor, paying off the loan he had taken out with his wife. He later passed away, leaving a balance on the mortgage. Years later, the mortgagee filed suit, seeking equitable subrogation. It argued that since its loan paid off the loan the husband had held with his wife, its interest encumbered the entire property, not just the husband’s interest. Read on for more details.
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