Summa Investing Corp. v. Resolution Trust Corp.

The defendant, Summa Investing Corp. [Summa], appeals from a final judgment of foreclosure entered at the conclusion of a non-jury trial. We affirm.

The Resolution Trust Corporation [RTC] is the successor in interest to Florida Federal Savings and Loan Association [Florida Federal] and has been formally substituted as the appellee herein. The parties agree that Florida Federal held a first mortgage on the property being foreclosed. However, the parties do not agree on anything else.

Summa contends that it was the successful bidder at the sale held when Sun Banks/Miami foreclosed on its second…