Resolution Trust Corp. v. Westridge Court Joint Venture

OPINION

HUGHES, Justice.

This appeal is taken from a case tried to the bench. Resolution Trust Corporation, as successor in interest to Southwest Savings Association (Southwest), appeals the trial court’s judgment that it was not entitled to recover a deficiency for default on a loan secured by real property from Wes-tridge Court Joint Venture (Westridge), Victor E. Paulos, Dan Lamountt, and J. Stanley Stephen (hereinafter collectively referred to as appellees), because it purchased the real property at the foreclosure sale for a gross underbid. We reverse.

Paulos, Lamountt, and Stephen formed…