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FEDERAL LAND BANK OF JACKSON v. WOLFE

No. 07-CA-58638.

560 So.2d 137 (1989)

FEDERAL LAND BANK OF JACKSON v. Joe T. WOLFE and Irene R. Wolfe.

Supreme Court of Mississippi.

Rehearing Denied April 25, 1990.

Attorney(s) appearing for the Case

Patricia A. Hancock, Jackson, William M. Chaffin, Holcomb Dunbar Connell Chaffin & Willard, Clarksdale, Lois La Seur, Holcomb Dunbar Connell Chaffin & Willard, Oxford, for appellant.

D. Ronald Musgrove, Smith & Musgrove, Batesville, for appellees.

Before HAWKINS, P.J., and SULLIVAN and PITTMAN, JJ.

PITTMAN, Justice for the court:

Joe and Irene Wolfe borrowed $663,000.00 from the Federal Land Bank of Jackson, and in return executed a note and deed of trust on 781 acres of their land. After the Wolfes defaulted on the loan, Federal Land Bank foreclosed, and eventually purchased the subject property at the foreclosure sale. Federal Land Bank then filed suit against the Wolfes in Tallahatchie County Circuit Court, alleging that the proceeds from the sale of the...

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