Billingsley v. Mitchell

The foreclosure of a first mortgage left a small surplus which the chancellor directed the auditor to show as payable to the appellees, Mr. and Mrs. Mitchell and Mr. and Mrs. Sachs, holders of a note secured by a second lien, a deed of trust, rather than to the appellant, Billingsley, a judgment creditor of the first mortgagor, who became such after the execution and recordation of the deed of trust.

Three sets of husbands and wives, the Mitchells, the Sachses and the Mayers, jointly executed a note secured by a deed of trust on their respective homes to enable the Mayers to borrow money from…