First Federal Savings Bank v. Knauss

Cureton, Judge:

First Federal Savings Bank filed complaints to foreclose mortgages on five pieces of property in Beaufort County. All of the properties were owned by Donald Knauss. First Federal expressly reserved its right to seek deficiency judg- merits against Knauss in its pleadings. Knauss claimed no deficiencies should be allowed because First Federal procured the appraisals which he relied on in purchasing the properties and “the bank was neglectful in appraising” the properties or in “obtaining adequate security for the loan(s).” Such actions by the bank he claims should act as a bar…