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FULLER v. EQUITABLE SAV. AND LOAN ASS'N

No. 82-3355.

718 F.2d 951 (1983)

Mark R. FULLER and Jacqueline R. Fuller, Plaintiffs-Appellants, v. EQUITABLE SAVINGS AND LOAN ASSOCIATION, an Oregon Corporation, Defendant-Appellee.

United States Court of Appeals, Ninth Circuit.

Decided October 18, 1983.

Attorney(s) appearing for the Case

R. Vern Kidwell, Holden, Kidwell, Hahn & Crapo, Idaho Falls, Idaho, Don G. Carter, McEwen, Newman, Hanna & Gisvold, Portland, Or., for defendant-appellee.

Eugene L. Bush, Sharp, Anderson, Bush & Nelson, Mark R. Fuller, Idaho Falls, Idaho, for plaintiffs-appellants.

Before KILKENNY, CHOY and CANBY, Circuit Judges.

CHOY, Circuit Judge:

The Fullers purchased a residence and sought to assume the seller's existing loan. The lender insisted that the interest rate on the loan be increased two percent as a condition to permitting the purchasers to assume. The purchasers brought a suit for breach of contract, alleging that the due-on-sale clause in the deed of trust afforded them the option of paying an assumption fee of two points in lieu of the increased rate of interest. The district...

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