Tarter v. Metropolitan Savings & Loan Ass'n

SPEARS, Justice.

This cause concerns the extent to which the doctrine of collateral estoppel bars claims arising from an alleged wrongful foreclosure. Respondent Metropolitan Savings and Loan Association (Metropolitan) was the holder of a note and first lien deed of trust on the home of Petitioners Jack and Margaret Tarter. The Tarters fell into arrears on the note, and Metropolitan notified them of its intent to foreclose. Before the Tarters could reinstate the loan, Metropolitan sold the note and first lien deed of trust to the holders of a second lien deed of trust on the Tarter home. The…