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Housing Emergency Prevails Over Contracts
by Legal Beagle
Home Building and Loan Association vs. Blaisdell, 290 U.S. 398 (1934) stated in an appeal of the Minnesota Mortgage Moratorium Law of 1933, during the emergency declared to exist, relief may be had through authorized judicial proceedings with respect to foreclosures of mortgages, and execution sales, of real estate; that sales may be postponed and periods of redemption may be extended. In other words, the emergency took precedence over the contracts clause of the Constitution.
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