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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Hagge v. Drew, 27 Cal. 2d 368 (1945)

Citation
Hagge v. Drew, 27 Cal. 2d 368 (1945)
Parent Document
Hagge v. Drew, 27 Cal. 2d 368 (1945)
Jurisdiction
California (state)
Effective Date
1945-12-14

Other Sections in This Document (51)

Full Text

644 chars
34 Cal.App.2d 723 [94 P.2d 370], are cited. Those cases hold that a secret second lien against property was invalid where taken by the holder of a first lien who had accepted bonds of the Home Owners Loan Corporation in settlement of his first lien. No such situation is presented in the instant ease. No secret liens are involved. The contract of sale did not necessarily contemplate Federal Housing Administration loans, although apparently plaintiffs intended to and did operate under such an arrangement. We fail to see how the large profit made by defendants so tended to frustrate the purpose of the Federal Housing statutes as to be *384