Peoples Savings Bank v. Spencer

ROBERTS, Justice.

Mortgagors Robert W. and Evelyn H. Spencer appeal from judgments entered against them in Superior Court, Androscog-gin County, on motions of Peoples Savings Bank, mortgagee, for deficiency assessments pursuant to 14 M.R.S.A. § 6324 (Supp.1983). Because the bank had been *833the purchaser at the foreclosure sale, the statute requires that any deficiency judgment be limited to the difference between fair market value of the property and the sum due the bank on the mortgage note plus interest and expenses of sale. The mortgagors contend that the Superior Court erred in accepting the…