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AMERICAN FEDERAL SAVINGS & LOAN ASS'N OF TACOMA v. McCAFFREY

No. 52565-0.

107 Wn.2d 181 (1986)

728 P.2d 155

AMERICAN FEDERAL SAVINGS AND LOAN ASSOCIATION OF TACOMA, Appellant, v. JOSEPH A. McCAFFREY, ET AL, Respondents.

The Supreme Court of Washington, En Banc.

November 13, 1986.

Attorney(s) appearing for the Case

Schweinler, Lowenberg & Lopez, by David E. Schweinler, for appellant.

Casey & Wiley, by Kevin P. Casey, and Hennings, Maltman, Weber & Reed, by Douglass A. North, for respondents.

DORE, J.

This action concerns the rights and obligations of the parties in the process of mortgage foreclosure sales. We hold that the mortgage creditor has exercised the option to accept the sale of the mortgaged property at the upset price by withdrawing the funds paid into the court registry to satisfy the deficiency judgment. This course of conduct precludes the mortgage creditor from demanding resale of the mortgaged property.

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