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CENTRAL FINANCIAL SERVICES, INC. v. SPEARS

No. 53677.

425 So.2d 403 (1983)

CENTRAL FINANCIAL SERVICES, INC. v. Marshall SPEARS.

Supreme Court of Mississippi.

January 12, 1983.

Attorney(s) appearing for the Case

Bourdeaux & Jones, Thomas L. Webb, E. Gregory Snowden, Meridian, for appellant.

Leslie C. Gates, Meridian, for appellee.

Before SUGG, P.J., and BROOM and BOWLING, JJ.

SUGG, Presiding Justice, for the Court:

The question in this case is whether a mortgagee, who purchases the mortgaged property at a foreclosure sale must account to the mortgagor for the surplus arising from a sale of the property by the mortgagee within two weeks for two and one-half times the amount bid by the mortgagee at the foreclosure sale.

Marshall Spears borrowed $1250 from Central Financial Services, Inc. (CFS), and executed a promissory note and...

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