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MADDEN v. ALASKA MORTG. GROUP

No. S-9428.

54 P.3d 265 (2002)

Rodney S. MADDEN and Marilyn J. Madden, Appellants, v. ALASKA MORTGAGE GROUP, an Alaska Limited Partnership, and Floyd Polmateer, Appellees.

Supreme Court of Alaska.

August 30, 2002.

Attorney(s) appearing for the Case

Ralph B. Cushman, Law Offices of Ralph B. Cushman, P.C., Anchorage, for Appellants.

Tonja Woelber, Tonja Woelber, P.C., Anchorage, for Appellees.

Before: FABE, Chief Justice, EASTAUGH, BRYNER, and CARPENETI, Justices.

OPINION

BRYNER, Justice.

I. INTRODUCTION

Alaska Mortgage Group sought to foreclose a deed of trust securing a promissory note from a debtor who had paid no installments for almost ten years and no longer owned any interest in the mortgaged property. Rodney and Marilyn Madden, who held a later mortgage on the same property, disputed the amount Alaska Mortgage claimed under its mortgage, contending that part of the debt was time-barred. Soon...

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