In re Estate of Thomas Dickson

MILLARD, J. -- On December 5, 1935, Thomas Dickson borrowed $1,006.64 from the Citizens Bank of Bremerton under the terms of the Federal housing administration act (12 U.S.C.A., § 1701 et seq.) and executed a note in favor of the bank for the amount of the loan, which was payable in forty-eight equal monthly installments, the first installment to be paid January 5, 1936. Under § 1703 of the housing act, the lending bank was insured against any loss sustained by its as a result of the loan to Dickson. Ten monthly installments, the last in October, 1936, and the interest due in November and December, 1936, on the loan were paid by Dickson.