MORTGAGORS’ RELIEF.
AN APPLICATION GRANTED.
(By Telegraph.—Press Association.) AUCKLAND, Monday,
The first application in Auckland under the Mortgagors’ Relief Act came before the Magistrate, Mr Gutten. , The applicant sought • cancellation for one year of payments for a reduction of the principal on a bill-of-sale collateral with a second mortgage.. He said he was unable to obtain payment from his debtors, and although he could pay the interest on the first mortgage and also on the bill-of-sale, he would be unable to reduce the principal. ’ The magistrate said the case was a clear one. The grantee of the bill-of-sale was in a safe position, and the security was still there. The application was granted subject to the payment of interest.
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Waikato Times, Volume 109, Issue 18343, 1 June 1931, Page 8
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119MORTGAGORS’ RELIEF. Waikato Times, Volume 109, Issue 18343, 1 June 1931, Page 8
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