context: Nebraska ease law does not establish criteria to follow in determining whether substantial equity exists in a particular case. However, a review of Nebraska deci-sional law reveals that strict foreclosure has been allowed not only where there is no equity in property, but also where a purchaser has paid approximately 11% of the contract price.
citation_a.signal: see
citation_a.parenthetical: vendee has no equity where a debt of $38,000.00 is compared to the property valued at $24,-000.00
citation_a.sentence: See Swanson v. Madsen, 145 Neb. 815, 18 N.W.2d 217 (1945) (vendee has no equity where a debt of $38,000.00 is compared to the property valued at $24,-000.00); Morgan v. Zoucha, 203 Neb. at 122, 277 N.W.2d at 565-66 (equity of $1559.68 as compared to a purchase price of $13,500.00 is not substantial equity).
citation_b.signal: but see
citation_b.parenthetical: equity of $16,000.00 as compared to a purchase price of $38,000.00 is substantial equity
citation_b.sentence: But see Ruhl v. Johnson, 154 Neb. 810, 49 N.W.2d 687 (1951) (equity of $16,000.00 as compared to a purchase price of $38,000.00 is substantial equity).