Mogg v. National Bank of Alaska

OPINION

RABINOWITZ, Chief Justice.

This appeal arises from the remand ordered in Lundgren v. National Bank of Alaska, 756 P.2d 270 (Alaska 1987). Originally, the case concerned the rights of James Lundgren and Henry Mogg, holders of deeds of trust in two properties foreclosed upon by the National Bank of Alaska (“NBA”). 1 In Lundgren, we held that NBA improperly invoked a “dragnet clause” in conjunction with foreclosure of its security interest in the subject properties. Id. at 279-80. We remanded for a new foreclosure or a hearing “in the event that intervening third party rights preclude this…