DARR
v.
FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF DETROIT
Supreme Court of Michigan.https://leagle.com/images/logo.png
Argued June 4, 1986.
Decided September 16, 1986.
Attorney(s) appearing for the Case
Frank J. Kelley, Attorney General, Louis J. Caruso, Solicitor General, and Harry G. Iwasko, Jr., and Philip J. Smith, Assistant Attorneys General, for the intervening plaintiff State of Michigan.
Clark, Klein & Beaumont (by Patrick J. Keating, David M. Hayes, and Thomas S. Nowinski) for the defendant.
Amici Curiae:
William K. Black and Paul W. Grace (Harry W. Quillian and Ralph W. Christy, of counsel) for Federal Home Loan Bank Board.
Garrett C. Burke and Allan G. Ratner for Federal Home Loan Mortgage Corporation.
Dickinson, Wright, Moon, Van Dusen & Freeman (by Gregory L. McClelland and Jeffery V. Stuckey) for Michigan Association of Realtors.
Warner, Norcross & Judd (by Jeffrey O. Birkhold and James H. Breay) for Michigan Bankers Association.
Mason, Steinhardt & Jacobs, P.C. (by John E. Jacobs and Jeannine F. Gleeson-Smith), for Mortgage Bankers Association of Michigan.
Stephen A. Bromberg, Alan S. Levine, and Robert R. Nix, II, for the State Bar of Michigan, Real Property Law Section.
Supreme Court of Michigan.
ARCHER, J.
I. FACTS
The facts and procedural history in this case are set forth in detail in Darr v First Federal Savings & Loan Ass'n of Detroit,146 Mich.App. 568; 381 N.W.2d 769 (1985). Briefly, in 1977 the Darrs purchased a home located in Redford Township. The home was financed through a mortgage which the Darrs executed with First Federal for $31,000. The mortgage...
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