An investment fund has won a $526,837 deficiency judgment verdict against the former owners of an office building in Wrightsville Beach, the attorneys for the fund report. The building was foreclosed upon after the real estate bubble burst, and the ...

Tagged with: deficiency

Branch Banking & Trust Co. v. Smith (Lawyers Weekly No. 15-07-0153, 14 pp.) (Chris Dillon, J.) Appealed from Wake County Superior Court (R. Allen Baddour, J.) N.C. App. Holding: If a bank buys property at its own foreclosure proceeding and ...

Tagged with: deficiency

HomeTrust Bank v. Tsiros (Lawyers Weekly No. 14-16-0824, 15 pp.) (Douglas McCullough, J.) Appealed from Buncombe County Superior Court (Alan Thornburg, J.) N.C. App. Unpub. Holding: The plaintiff-bank failed to properly serve defendant-guarantor George Tsiros personally with notice of the ...

Tagged with: deficiency

Greer State Bank v. Evans Where defendant’s answer admitted that the plaintiff-bank sought a deficiency judgment in the amount calculated by the bank at $198,566.56, but where the answer otherwise denied the allegations of the bank’s complaint, there is a genuine issue of material fact as to the amount due on defendant’s debt.

Tagged with: deficiency

Rutherford Plantation, LLC v. Challenge Golf Group of the Carolinas, LLC Even though defendant failed to raise the anti-deficiency statute at the summary judgment stage and cited the wrong subsection of N.C. R. Civ. P. 59 in its motion to amend judgment, the trial court should have taken notice of the anti-deficiency statute, which cannot be waived, and denied plaintiff a deficiency judgment.

Tagged with: deficiency judgment