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BERG v. LIBERTY FED. SAV. & LOAN ASS'N

428 A.2d 347 (1981)

Howard M. BERG and Sandra Berg, Defendants, Appellants, v. LIBERTY FEDERAL SAVINGS AND LOAN ASSOCIATION, Plaintiff, Appellee.

Supreme Court of Delaware.

Decided March 13, 1981.

Attorney(s) appearing for the Case

William J. Cattie, III (argued) of Berg, Heckler & Cattie, P. A., Wilmington, for defendants-appellants.

Jeffrey M. Weiner (argued) of Bayard, Brill & Handelman, P. A., Wilmington, for plaintiff-appellee.

Before McNEILLY, QUILLEN and HORSEY, JJ.

HORSEY, Justice.

This appeal concerns whether a mortgage lender's otherwise available remedies on borrower's default are compromised by lender's dealings with a third party grantee under a debt arrangement with borrower.

In 1970, Howard M. Berg and Sandra Berg (borrowers) executed, for valuable consideration, a bond and mortgage of real estate in favor of Liberty Federal Savings and Loan Association (lender). In 1973...

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