Wilson v. METROPOLITAN FEDERAL SAVINGS & LOAN ASSOCIATION

Pope, Judge.

Appellants L. Don and Sadricia A. Wilson (the Wilsons) purchased three condominium units in 1984. When the Wilsons defaulted on their notes, appellee Metropolitan Federal Savings & Loan Association (Metropolitan) foreclosed on the properties. The only issue in these appeals is whether the prices paid for the properties were the true market values of the properties on the date of the foreclosure sale. OCGA § 44-14-161 (b).

Metropolitan purchased the three condominium units at the foreclosure sale for $52,000, $52,250, and $46,250, respectively. At the confirmation hearing,…