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HOME SAVINGS & LOAN ASSOCIATION v. BATES

No. 7811.

417 P.2d 801 (1966)

76 N.M. 664

HOME SAVINGS & LOAN ASSOCIATION, a New Mexico corporation, Plaintiff-Appellee, v. W. C. BATES, d/b/a American Builders Supply, Defendant-Appellant.

Supreme Court of New Mexico.

August 29, 1966.

Attorney(s) appearing for the Case

Threet, Threet, Glass & King, Albuquerque, for appellant.

Jack A. Smith, Albuquerque, for appellee.

OPINION

WALDO SPIESS, Judge, Court of Appeals.

This action was instituted for the purpose of foreclosing a real estate mortgage securing a loan made by appellee, Home Savings and Loan Association, to one, William M. Mills. The loan was in the amount of $35,000.00, the proceeds to be used by Mills in the construction of a dwelling upon the property covered by the mortgage.

The loan was payable over a period of thirty years in monthly installments...

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