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WALKER v. FIRST FEDERAL SAV. AND LOAN

No. 8815SC888.

378 S.E.2d 583 (1989)

Philip E. WALKER v. FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF RALEIGH and Howard S. Kohn, Substitute Trustee. In the Matter of the Foreclosure of a Deed of Trust executed by Philip E. WALKER and Wife, Laura P. Walker Dated July 1, 1983 and Recorded in Book 426, Page 299, in the Orange County Registry by Howard S. Kohn, Substitute Trustee.

Court of Appeals of North Carolina.

May 2, 1989.

Attorney(s) appearing for the Case

Northen, Blue, Little, Rooks, Thibaut & Anderson by John A. Northen and Jo Ann Ragazzo Woods, Chapel Hill, for plaintiff-appellant.

Petree Stockton & Robinson by Kenneth S. Broun and Gary K. Joyner, Raleigh, for defendant-appellee First Federal Sav. and Loan Ass'n of Raleigh.

JOHNSON, Judge.

This is an appeal from a judgment decreeing that plaintiff is not entitled to a reduction in the principal due and owing on a note, and an order allowing foreclosure of the property securing the note to proceed.

The following real estate transactions form the basis for the action underlying this appeal. On 1 July 1983, plaintiff, Philip E. Walker, executed a purchase money promissory note (Bennett...

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