Texas Adopts the “Outstanding Balance” Method of Calculating the Deficiency or Surplus After Foreclosure of a Wraparound Deed of Trust: Summers v. Consolidated Capital Special Trust, 783 S.W.2d 580 (Tex. 1989)
Hunter, Janet L.
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Analyzes the Texas Supreme Court case of Summers v. Consolidated Capital Special Trust. The Texas Supreme Court adopted the outstanding balance approach of calculating deficiency or surplus after foreclosure of a wraparound deed of trust held that the sale price should be credited against the total outstanding indebtedness on the note.