Mortgagee Entitled to Six Month’s Interest in Lieu of Notice #99
By Gerry NeelyB.A. LL.B. Mary borrowed $100,000.00 from Joe in August, 1983, which she agreed to pay with interest at 11% in monthly installments over a period of one year. This amount was secured by a mortgage and, when Mary’s payments fell into arrears, Joe commenced a foreclosure action. The action was settled by Joe’s agreement …