Beal Bank, SSB v. Thornton

JOHN MAUZY Pittman, Judge.

This is an appeal from an order of the Miller County Chancery Court denying appellant Beal Bank’s petition to foreclose on a deed of trust securing a promissory note on which appellees Larry Thornton and Edwina Thornton defaulted in 1988. We find merit in one of appellant’s points for appeal, and we affirm in part and reverse in part.

On May 9, 1986, appellees signed a promissory note to Texana Savings and Loan Association and gave a deed of trust to secure the debt. Appellees made their last payment on the note in May 1988, and later that summer, the bank accelerated…