Chidnese v. McCollem

KLEIN, Judge.

The appellants held a mortgage on a residence owned by appellee which went into default. They appeal the trial court’s denial of a deficiency, and we reverse, finding that the court erred in failing to deduct unpaid real estate taxes when it determined the fan-market value of the home.

Following a trial, a final judgment of foreclosure was entered determining that $296,-366 was due under the mortgage. The property was sold at a public sale, and the lenders purchased it for a nominal sum after there were no other bids. The lenders then moved for a deficiency in the same proceeding.

T…