State Bank of Young America v. Fabel

OPINION

NORTON, Judge.

After foreclosing on a mortgage, purchasing the property subject to the mortgage at a foreclosure sale, and thereafter selling the property in a public auction for less than the amount paid at the foreclosure sale, State Bank of Young America (State Bank) brought an action against the Fabels, personal guarantors of the mortgage debt, for the difference between the price paid at the foreclosure sale and the price paid at the subsequent resale. The trial court dismissed the claim, concluding that State Bank’s purchase of the property at the sheriffs sale had extinguished…