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IDAHO POWER CO. v. BENJ. HOUSEMAN CO.

No. 20083.

851 P.2d 970 (1993)

123 Idaho 674

IDAHO POWER COMPANY, an Idaho corporation, Plaintiff-Respondent, v. The BENJ. HOUSEMAN COMPANY, Successor in Interest to the Zachreson Company, Defendant-Appellant.

Supreme Court of Idaho, Boise, February 1993 Term.

April 29, 1993.

Attorney(s) appearing for the Case

Lojek, Gabbert & Strother, Chtd., of Boise, for defendant-appellant. Jeffrey A. Strother argued.

Ellis, Brown and Sheils, Chtd., of Boise, for plaintiff-respondent. Martin T. Neils argued.

JOHNSON, Justice.

This is a collection case. We hold that a mortgagee is not precluded from suing to collect the entire debt secured by a mortgage where the debt was not due and where there was no basis to foreclose the mortgage at the time the property was sold to a third party by the trustee of prior deeds of trust for less than the fair market value of the property.

I.

THE BACKGROUND AND PRIOR PROCEEDINGS.

On May 12, 1981, The Zachreson...

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