LEE v. MERCANTILE FIRST NAT. BANK

No. CA 88-283.

765 S.W.2d 17 (1989)

27 Ark.App. 11

Larry K. LEE et ux., Appellants v. MERCANTILE FIRST NATIONAL BANK OF DONIPHAN, Appellee.

Court of Appeals of Arkansas, Division I.

Rehearing Denied March 22, 1989.


Attorney(s) appearing for the Case

Scott Manatt, Corning, for appellants.

Jim King, Pocahontas, for appellee.


MAYFIELD, Judge.

The first question in this appeal involves the right of a mortgagee to require that other mortgaged property be sold and the proceeds applied to the indebtedness due, before a mortgaged homestead is sold.

On June 6, 1977, Larry Lee and his wife executed to Corning Savings and Loan Association a note in the amount of $38,500.00 secured by a mortgage upon commercial property owned by them. On November 13, 1981, Larry Lee and his wife executed...

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