Appeal from an interlocutory decree sustaining the appellees' demurrer to the bill of complaint as amended.
The amended bill was filed by the appellant to have set aside, as void, a certain mortgage foreclosure deed which conveyed several parcels of land situated in Geneva County. The mortgage was executed on January 1, 1920, by one J. N. McDuffie, now deceased, through whom the appellant claims as heir, to one of the appellees, the Federal Land Bank of New Orleans as mortgagee. The mortgage was to be repaid in 35 fixed annual installments. The mortgagor defaulted in his payments causing the mortgagee to foreclose the mortgage on January 31, 1935. The mortgagee purchased the lands in question at its own sale under the terms of the mortgage.
The other appellees are the present owners of various parcels of the land to whom the Bank later sold.
The point is not made very clear; but appellant seems to argue that it was mandatory upon the Federal Land Bank of New Orleans to grant an extension of the past due installments upon his application therefor; and that the failure of the mortgagee to grant said extension made the subsequent mortgage foreclosure null and void.
But the authorities cited by the appellant, as we construe them, do not support his contentions. The Federal Farm Loan Act was amended by Public Law No. 3 of the 72d Congress and approved January 23, 1932. This amendment is now found in Title 12 U.S.C.A. § 781, and, in part, reads:
This portion of the Federal Farm Loan Act, by its own terms, authorized the respective Boards of Directors of the various Federal Land Banks to exercise their discretion in granting extensions of unpaid installments on mortgages. Wilder v. Federal Land Bank of Columbia, 176 Ga. 813, 169 S.E. 13; Federal Land Bank of New Orleans v. Lee, 174 Miss. 774, 165 So. 613; Federal Land Bank of Omaha v. Wilmarth, 218 Iowa 339, 252 N.W. 507, 513, 94 A.L.R. 1338.
Chief Justice Russell, speaking for the Georgia Supreme Court, in the Wilder Case, supra [176 Ga. 813, 169 S.E. 15], with respect to that provision of the Federal Act and the action of the board of directors thereunder, said;
We find no error in the ruling below.
LIVINGSTON, C. J., and GOODWYN and SPANN, JJ., concur.