Frazier v. Neilsen & Co.

SWANSTROM, Judge.

Neilsen & Company appeals from the summary judgment awarding the Fraziers the money owing on a promissory note secured by a deed of trust on certain real property. Neilsen argues that an amendment to I.C. § 45-1503 by House Bill 274, passed during the 1989 legislative session, is applicable to this case and requires liquidation of the secured property before any other assets of the borrower can be reached for payment of the debt. For the following reasons, we disagree and we affirm the summary judgment.

The facts of this case are set out in detail in Frazier v. Neilsen & Co.,…