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EGBERT v. FREEDOM FEDERAL SAVINGS & LOAN ASS'N

14 Mass. App. Ct. 383 (1982)

440 N.E.2d 22

KATHERINE A. EGBERT & another, trustees, vs. FREEDOM FEDERAL SAVINGS AND LOAN ASSOCIATION.

Appeals Court of Massachusetts, Suffolk.

September 10, 1982.

Attorney(s) appearing for the Case

William Guy Ferris for the defendant.

Edward J. Barshak (Stuart R. Johnson with him) for the plaintiffs.

Present: PERRETTA, DREBEN, & KASS, JJ.

PERRETTA, J.

When the defendant mortgagee Freedom Federal Savings and Loan Association (Freedom) discovered that the plaintiff mortgagor trustees had granted a second mortgage on the realty in issue to Citicorp Real Estate, Inc. (Citicorp), in violation of what Freedom believed its rights to be under the terms of its mortgage, it exercised its option to accelerate the debt. Upon receiving notice that Freedom was electing to accelerate, the trustees obtained a discharge...

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