Franks v. Colorado National Bank-Arapahoe

Opinion by

Chief Judge STERNBERG.

Plaintiffs, John M. and Nancy S. Franks, appeal from a judgment of the trial court finding a deficiency in favor of the defendant, the Colorado National Bank — Arapahoe (Bank). We affirm but remand for further findings.

John Franks signed a promissory note in favor of the Bank, giving as a portion of the security a deed of trust on a residence owned by Nancy Franks, his wife. The Bank became a junior lienor to the holder of an existing first deed of trust on the property.

The holder of the first deed of trust foreclosed on the property and was the successful…