Hemisphere National Bank v. Goudie

Hemisphere National Bank (Hemisphere) brought this action to collect funds due under a promissory note executed in its favor by Fergo, Inc. The note was originally secured by a second mortgage on certain real property and by a Guaranty Agreement executed by John Goudie and Jose Ferrer. Prior to the commencement of this suit, however, the first mortgage was foreclosed on the real property and Ferrer filed personal bankruptcy. Fergo, Inc. defaulted on the note, and Hemisphere then brought this action against Goudie to recover the principal, accrued interest, costs and attorney’s fees pursuant…