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OXFORD FINANCE COMPANIES, INC. v. VELEZ

No. 3-90-001-CV.

807 S.W.2d 460 (1991)

The OXFORD FINANCE COMPANIES, INC., Appellant, v. Jossie A. VELEZ and Mid-Tex Investments, a Texas General Partnership, and as Partners Individually, C.L. Keaton, Ed Laughlin and William Hill, Appellees.

Court of Appeals of Texas, Austin.

Rehearing Overruled May 8, 1991.

Attorney(s) appearing for the Case

M.M. Wade, Belton, for appellant.

Charla Smart, Ted Smith, Jr., P.C., Killeen, for Jossie A. Velez.

Jack W. Jones, Jr., David Bridges, Law Offices of Jack W. Jones, Jr., Temple, for Mid-Tex Investments, a Texas General Partnership, and as Partners Individually, C.L. Keaton, Ed Laughlin & William Hill.

Before SHANNON, C.J., and ABOUSSIE and JONES, JJ.

JONES, Justice.

Jossie Velez contracted with Major Material Corporation to install aluminum siding on her home. The Oxford Finance Companies, Inc. ("Oxford"), as permanent lender, accepted assignment of the contract as well as the lien Major Material had obtained thereunder. When a dispute arose and Velez discontinued her payments, Oxford foreclosed. Mid-Tex Investments ("Mid-Tex") purchased the home at the foreclosure sale. When Mid-Tex attempted to take possession...

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