Simson v. Bilderbeck, Inc.

OPINION

JOE W. WOOD, Judge, Court of Appeals.

This appeal involves priority of liens and the subrogation rights of an assignee of a note secured by real estate mortgage.

In obtaining a bank loan, Bilderbeck, Inc. executed a promissory note and secured the note with a mortgage on the real property involved. In addition, plaintiff signed the note. Because of financial difficulties of Bilderbeck, Inc., and before the note was due, the bank called upon plaintiff to pay the note. Receiving payment from plaintiff, the bank assigned the note and real estate mortgage to plaintiff.

'Bilderbeck, Inc.…