Underwood v. Otwell

In his complaint, plaintiff has stated a cause of action for a judgment on the note which defendants Otwell executed to him and to defendant Underwood, and he has attempted to state a cause for the foreclosure of the deed of trust securing the note. “A creditor whose debt is secured by way of mortgage or trust has two remedies — one in personam, for his debt; the other in rem, to subject the mortgaged property to its payment; and a resort to one is no waiver of the other.” Silvey v. Axley, 118 N.C. 959, 963, 23 S.E. 933, 934. The creditor may combine the two remedies in one civil action. G.S.…