59 Iowa 407 | Iowa | 1882
Of course it is in his power, and it is just as competent for the senior creditor to grant an extension after foreclosure of the prior mortgage as it was before that time. Now, if a junior creditor can redeem after foreclosure, as he certainly may, why not before? It is said section 3103 of the Code gives the debtor the exclusive right for six months after the sale to redeem, and to permit a junior creditor to redeem before sale is inconsistent with this provision of the statute. To an extent, this is so, but the debtor can prevent such redemption by doing that which it is his duty to do, and that is to pay the junior lien. It is true section 3109 of the Code in terms provides the junior creditor may redeem from the senior if execution has been issued. This gives a right which did not exist before, or at common law, but it does not negative or take away any existing or prior right possessed by the junior creditor. We are unable to discover any provision of the statute which negatives or takes away the right of the junior creditor to redeem from a prior mortgage previous to
Affirmed.