Meeker v. Eufaula Bank & Trust

Blackburn, Judge.

This appeal arises from an action to collect a deficiency owed by the appellant to the appellee, the Eufaula Bank & Trust, following foreclosure on certain real property located in Eufaula, Alabama.

From March 1987 until October 1989, the appellant executed a series of promissory notes and renewal notes in favor of the appellee, which were secured by two mortgages, totalling $23,000, on the property in question. The last note was executed on October 1, 1989, and provided that payment of the principal amount of $25,253.62 was due on March 30, 1990; interest was due quarterly.…