Laird v. Phenix Federal Savings & Loan Ass'n

Sognier, Judge.

Phenix Federal Savings and Loan Association (Phenix) filed an action for confirmation of sale of real estate under a power of sale contained in a deed to secure debt executed by Laird. Phenix foreclosed on the property when Laird defaulted on a promissory note in the amount of $800,000 which was secured by the subject property. Phenix, the only bidder at the public sale, purchased the property for $416,482.38. The trial court found that the property was lawfully and properly advertised for sale, that the sale was properly conducted, and that appellee’s bid represented the true…