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WASH. FED. SAV. & LOAN ASS'N v. McCNAUGHTON

No. 68178-8-I.

325 P.3d 383 (2014)

WASHINGTON FEDERAL SAVINGS & LOAN ASSOCIATION, a federal association, Respondent, v. Mark A. McNAUGHTON and Marna L. McNaughton, husband and wife, individually and the marital community comprised thereof, Appellants.

Court of Appeals of Washington, Division 1.

May 19, 2014.

Attorney(s) appearing for the Case

Charles Ennis Newton , Cairncross & Hempelmann PS, Christopher Ian Brain , Adrienne McEntee, Tousley Brain Stephens PLLC, Seattle, WA, for Appellants.

Gregory R. Fox , Ryan P. McBride , Lane Powell PC, Seattle, WA, for Respondent.

SCHINDLER, J.

¶ 1 Real estate developers Mark A. and Marna L. McNaughton own The McNaughton Group LLC (TMG). Mark McNaughton signed a promissory note on behalf of TMG for an $11.7 million commercial loan. The note was secured by a deed of trust on two parcels of property owned by TMG. Mark and Marna McNaughton each personally guaranteed payment of the $11.7 million debt to the bank. Following the default on the promissory note and a nonjudicial foreclosure sale...

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