Newburyport Five Cents Savings Bank v. MacDonald

The plaintiff, Newbuiyport Five Cents Savings Bank (the “Bank”) brings this deficiency action against defendant John E. MacDonald (“MacDonald”) to recover $554,276.14. MacDonald was a guarantor1 and comaker of five promissory notes to the Bank, each secured by a mortgage on real property located in New Hampshire. The defendant concedes that he defaulted on the promissoiy notes at issue. However, he claims that this action is barred by the applicable statute of limitations, and that the foreclosure sales on the mortgaged properties were not conducted in a commercially reasonable manner. The…