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TOTOWA SAVINGS & LOAN ASS'N v. CRESCIONE, ET UX

144 N.J. Super. 347 (1976)

365 A.2d 713

TOTOWA SAVINGS & LOAN ASSOCIATION, PLAINTIFF-RESPONDENT, v. JOSEPH J. CRESCIONE, ET UX, DEFENDANTS-APPELLANTS.

Superior Court of New Jersey, Appellate Division.

Decided October 13, 1976.

Attorney(s) appearing for the Case

Mr. Joseph C. Nuzzo argued the cause for appellants (Messrs. Nuzzo, Nuzzo & Buchanan, attorneys).

Mr. Joseph J. Vanecek argued the cause for respondent.

Before Judges MATTHEWS, SEIDMAN and HORN.

PER CURIAM.

Defendants appeal from a judgment of foreclosure.1 The basic facts are not in dispute.

In 1952 defendants obtained a mortgage loan from plaintiff in the amount of $10,800 to enable them to purchase a one-family dwelling. They were advised by commitment letter that the loan, with interest at the rate of 5% per annum, would run for a period of 20 years, and that the monthly payments would be $87.00, of which $61.28 would...

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