Laws, Life, and Legal Matters - Court Cases and Legal Information at Leagle.com - All Federal and State Appeals Court Cases in One Search

Laws, Life, and Legal Matters - Court Cases and Legal Information at Leagle.com - All Federal and State Appeals Court Cases in One Search: "This case involves a default by investors who held waterfront property in Orange Beach, Alabama. The lender exercised a power of sale to conduct its own foreclosure on the mortgaged property. A lawyer for the lender ran the auction and made the only bid. A representative of the investors attended the auction but did not participate. The lender bought the property. Then, the lender sued the investors for the balance of the loan. The investors protested, claiming that the purchase price was only a fraction of the property's fair market value, thereby needlessly inflating the loan deficiency."