Commerce Union Bank Brentwood, Tennessee D/B/A Reliant Bank v. Kelly D. Bush

OPINION

FRANK G. CLEMENT, JR., P.J., M.S.,

delivered the opinion of the Court,

in which ANDY D. BENNETT and RICHARD H. DINKINS, JJ., joined.

This is a post-foreclosure action in which the lender seeks to recover a deficiency judgment, interest, and the costs of collection. In their answer, the borrowers asserted that the loan was a nonrecourse debt; thus, they were not liable for the deficiency. Alternatively, they asserted that the property sold at foreclosure for an amount materially less than its fair market value. Following a bench trial, the trial court concluded that the loan was a full…