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BORKUS v. MICH. NAT'L BANK

Docket No. 56730.

117 Mich. App. 662 (1982)

324 N.W.2d 123

BORKUS v. MICHIGAN NATIONAL BANK

Michigan Court of Appeals.

Decided July 12, 1982.

Attorney(s) appearing for the Case

Weiner, Hauser, Wartell & Roth (by J. Laevin Weiner and Harvey R. Heller), for plaintiff.

August, Thompson, Sherr, Clarke, Shafer & Shepman, P.C., for defendant.

Before: D.C. RILEY, P.J., and D.E. HOLBROOK, JR., and M.J. KELLY, JJ.

M.J. KELLY, J.

This appeal presents an issue of first impression regarding the authority of a national bank to obtain a second mortgage as security for a real estate loan under the federal and state banking acts as written in 1971.

I

Plaintiff and her former husband owned a single-family residence in Southfield subject to a first mortgage and were buying a parcel of commercial property in Detroit on a land contract. On December 1, 1971, the defendant...

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