Residential Funding Corp. v. Barrera

FLETCHER, Judge.

Residential Funding Corp. [Residential] filed this action for foreclosure of its second mortgage on property owned by the Barreras, at which time there was also pending a separate action seeking foreclosure of a first mortgage of $650,000. Residential obtained a judgment in its favor for $261,181.20 and the property was sold, without Residential bidding at the auction sale. The purchaser was a non-party whose bid of $1,000 subject to the first mortgage was successful. Residential subsequently moved for a deficiency judgment in the amount of $266,263.80 which motion was denied…