United States v. Stadium Apartments, Inc.

425 F.2d 358 (1970), cert. denied, 400 U.S. 926, 91 S.Ct. 187, 27 L.Ed.2d 185 (1970)

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United States v. Stadium Apartments, Inc.

United States Court of Appeals for the Ninth Circuit
425 F.2d 358 (1970), cert. denied, 400 U.S. 926, 91 S.Ct. 187, 27 L.Ed.2d 185 (1970)

SC

Facts

Stadium Apartments, Inc. (Stadium) (defendant) owned a property subject to a mortgage held by Prudential Insurance Co. (Prudential) and insured by the Federal Housing Administration (FHA) (plaintiff). Prudential assigned the mortgage to FHA when Stadium defaulted. FHA paid Prudential in full and commenced foreclosure proceedings. The district court entered a judgment for FHA, while allowing Stadium a one-year redemption period pursuant to Idaho statute. FHA appealed, claiming that as a federal agency it was not subject to state redemption statutes.

Rule of Law

Issue

Holding and Reasoning (Duniway, J.)

Dissent (Ely, J.)

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