Firstcentral Bank v. White

2 Citing cases

  1. In re Ingles

    Bankruptcy No. 17-00018 (Bankr. N.D. Iowa Aug. 4, 2017)

    The Iowa Supreme Court has said, "An erroneous description will not render a mortgage unenforceable." First Cent. Bank v. White, 400 N.W.2d 534, 537 (Iowa 1987). More precisely,

  2. Matter of Sinnard

    91 B.R. 850 (Bankr. N.D. Iowa 1988)   Cited 8 times

    The debtor could have asserted her incapacity at the time of the execution of the mortgage as a defense to the Bank's crossclaim for foreclosure. See FirstCentral Bank v. White, 400 N.W.2d 534, 537 (Iowa 1987) (quoting 59 C.J.S. Mortgages ยง 506(c) (1949)) ("`The validity of a mortgage may be attacked, in foreclosure proceedings, for illegality, fraud, duress, or other such matters which undermine its very foundation.'"). Her failure to do so, constitutes a waiver of that defense. Because of the Iowa Supreme Court's implicit ruling on the effect of Mr. Walsh's conduct on the mortgage's validity, and because the debtor chose not to advance incapacity as a defense to the foreclosure claim, the debtor cannot now collaterally attack in this forum the ruling of the Iowa Supreme Court reversing the trial court's cancelation of the real estate mortgage and directing the trial court's entry of the foreclosure judgment.