Opinion ID: 1925557
Heading Depth: 2
Heading Rank: 2

Heading: Waltke's Indebtedness to Schanke

Text: ¶ 11. During all of his dealings with the Bank, Waltke was also in debt to Schanke. Waltke signed a $20,000 note in favor of Schanke on March 10, 1986, which was due September 9, 1986. Waltke never made any payments on this debt, and Schanke filed suit against Waltke on April 9, 1987, to collect on the note. He served process on Waltke on April 13, 1987. Waltke's answer was due May 4, 1987, three days before he executed the Mortgage at issue in this case. ¶ 12. Waltke did not contest the suit with Schanke and on May 19, 1987, the presiding judge awarded Schanke a default judgment. Schanke purchased a half interest in the Waltkes' Genesee property at a sheriff's sale on June 13, 1998. This is the same property that is the subject of the Mortgage with the Bank. [6]