(Download) "Higgins V. Arizona Savings And Loan Association" by Arizona Supreme Court * eBook PDF Kindle ePub Free
eBook details
- Title: Higgins V. Arizona Savings And Loan Association
- Author : Arizona Supreme Court
- Release Date : January 11, 1961
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 73 KB
Description
Appellants, Fred and Helen Higgins, applied in writing on March 11, 1955, to appellee, Arizona Savings and Loan Association (hereinafter referred to as the Association), for a loan of $94,800. The purpose of the loan was to refinance certain property then subject to two first mortgages, one second mortgage and a federal tax lien. The amount was sixty percent of the property's appraised value of $158,200 as determined by a Mr. Archer, a qualified appraiser engaged by the Association. His signed written appraisal was dated October 21, 1954. At several times in September and October of 1954, Fred Higgins had met with Max Marcus, a mortgage loan broker, and Jerome Smrt, head loan officer of the Association, to discuss the possibility of such a loan. At these meetings Smrt insisted that the land across the street from the Higgins property would have to be cleared of certain trees, shacks and a junkyard before a loan could be considered. Higgins assured Smrt that the land would be cleared as requested.
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