First of America Bank-Oakland MacOmb, NA v. Brown

Defendants John Anthony Brown and Pamela A. Brown appeal as of right from a deficiency judgment entered against them in the amount of $35,649.23 plus interest.

In June, 1980, the Browns gave plaintiff First of America Bank-Oakland Macomb, N.A., a promissory note for $55,000, at fifteen percent annual interest. As security, the Browns gave the bank a second mortgage on their home. A senior mortgage was held by Standard Federal Savings and Loan Association.

When the Browns failed to make any payments on the interest or principal, First of America foreclosed by advertisement. A sheriff’s sale was…