Stinson v. Blodget

GRIFFIN, J.

Plaintiffs and appellants Archie Stinson and wife brought this action against defendants and respondents Viola G. Blodget, Claude Blodget et al., in which they

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allege that defendants claim an interest adverse to that of plaintiffs in certain described real property in Kern County, consisting of two small houses located on two small lots.

The evidence shows that plaintiffs owned the property in question; that certain plumbing was faulty and the city officials required its repair and that plaintiffs needed money; that Mr. Blodget, a real estate agent and friend of plaintiffs, went on plaintiffs’ note for $700, as an accommodation endorser or comaker

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and that plaintiffs paid him $60 in cash for signing it. Plaintiffs defaulted in payment and Blodget was compelled to satisfy a judgment in favor of the finance company. Several other suits were pending against Archie Stinson. Blodget and plaintiffs had a conference, and to give Blodget some security for the repayment of the monies advanced on behalf of plaintiffs by him and to avoid other creditors realizing on plaintiffs’ equity in their home, it was suggested that plaintiffs deed their property to their two sons and that they execute a second trust deed for $1,246, at.8 per cent interest, to Blodget’s wife for the money advanced by them, and allow said sum to be paid off at the rate of $20 per month. This arrangement was carried out. There was a first trust deed on the property in the approximate sum of $500, and back taxes were due. Blodget paid an obligation of plaintiffs for $160.69, and other items, all totaling $1,246, the amount of the second trust deed. Included therein was an item wherein Blodget charged plaintiffs $100 for his efforts in the matter and in securing the loan.

Only two payments were made on Mrs. Blodget’s trust deed, leaving a balance of $1,219.07. After two or three years’ delinquency, the defendant Title Insurance and Trust Company, trustee, gave the sons notice of default. Plaintiffs paid approximately $400, the balance due on the first trust deed, just before foreclosure sale under the second trust deed, at which sale Mrs. Blodget purchased the property for the amount then due on her note.