Peachtree Mortgage Corp. v. First National Bank

Banke, Judge.

The appellee bank was the holder of deeds to secure debt covering several tracts of land owned by appellant Peachtree Mortgage Corp. Due to alleged defaults on the underlying indebtedness, the appellee foreclosed and purchased the property as the only bidder. It then filed proceedings against the appellants — Peachtree and its indemnitor — seeking judicial confirmation of the sales. Judgment was entered confirming the sales, and the appellants appeal.

1. In their answer to the appellee’s complaint, the appellants counterclaimed for the alleged excess of the property’s fair market…