Citimortgage, Inc. v. Synuria

Market price versus the sale price of a foreclosed home is questioned in this appeal from the trial court’s denial of a motion to vacate a foreclosure sale. The lender argues that its excusable neglect and the disproportionate sale price to the actual value mandates that the foreclosure sale be set aside. We agree and reverse the order denying the lender’s motion to set aside the sale.

The lender filed a foreclosure action against the homeowners. The trial court entered a final judgment of foreclosure in the amount of $41,580.97. The court set a foreclosure sale for December 8, 2010. The sale…