Farber v. Howell

McFADDEN, Justice Pro Tern.

In August 1978, the defendants owed plaintiffs $9,925.54 on a promissory note secured by a deed of trust. The plaintiffs instituted a deed of trust sale and purchased the secured property for $1,000.00. On September 27, 1979, plaintiffs filed an action for deficiency plus costs and accrued interest minus the fair market value at the time of the sale. The complaint prayed for the amount of $9,925.54. An answer was submitted by defendants’ former attorneys on October 19, 1979. In the answer, defendants denied that they owed any deficiency to plaintiffs. Shortly after…