UNITED STATES SUPREME COURT DECISIONS ON-LINE

A state law providing that a mortgagee who has bid in the property at foreclosure sale shall have no deficiency judgment if the value of the property equals the amount of the debt and interest plus costs and expenses does not impair the obligations of preexisting mortgage contracts within the intendment of the contract clause of the Constitution. Richmond Mortgage Corp. v. Wachovia Bank, 300 U. S. 124, 300 U. S. 128. P. 306 U. S. 545.

278 N.Y. 467, 17 N.E.2d 131, affirmed.

Appeal from a judgment affirming a judgment which confirmed a foreclosure sale to the appellant as mortgagee-purchaser, clubjuris

Page 306 U. S. 540

but overruled his motion for a deficiency judgment.