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RIVER EDGE S. & L. ASS'N v. CLUBHOUSE ASSOCIATES

178 N.J. Super. 177 (1981)

428 A.2d 544

RIVER EDGE SAVINGS & LOAN ASSOC., A NEW JERSEY CORPORATION, PLAINTIFF-RESPONDENT, v. CLUBHOUSE ASSOCIATES, INC., A NEW JERSEY CORPORATION, DEFENDANT-APPELLANT, AND HOLIDAY LAKE, INC., A NEW JERSEY CORPORATION, AND HENRY E. WULSTER, DEFENDANTS.

Superior Court of New Jersey, Appellate Division.

Decided March 30, 1981.

Attorney(s) appearing for the Case

Leonard H. Marks, attorney for appellant.

Goodman & Lustgarten, attorneys for respondent (Richard A. Lustgarten on the brief).

No brief was filed on behalf of defendants Holiday Lake and Henry E. Wulster.

Before Judges BISCHOFF, MILMED and FRANCIS.

PER CURIAM.

This is an appeal from a deficiency judgment following a mortgage foreclosure. The issue presented is whether this action was barred by N.J.S.A. 2A:50-22(a), which prohibits any action to enforce an agreement to assume the payment of any mortgage, or of any bond secured by a mortgage, unless the mortgage was first foreclosed and the person making such agreement was made a party defendant in the foreclosure.

In June 1974 Holiday Lake, Inc. (Holiday...

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