![]() In those circumstances, the equitable discretion should be exercised only after close inquiry into the extraordinary outcome. The claim after the foreclosure auction and the resale is much greater than the amount that was owed when the bank sued for the equitable remedy of foreclosure and sale. MacLean tendered a bank draft for $10,495, but that was not enough to cover the debt plus mounting costs - The draft was returned - An order for foreclosure and sale was obtained - It settled the mortgage debt at $10,877 plus costs - The bank purchased the property at the foreclosure auction for $1,150 - The bank resold the property for $4,000 and now claimed a deficiency judgment of $16,967 - The Nova Scotia Supreme Court granted the bank judgment for $6,877 - The court stated that "The amount realized is drastically less than the cost of realization. and the aggregate of the sums claimed above" - The sums included principal, interest, protective disbursements, and costs - Mr. Mortgage actions - Foreclosure and sale - Deficiency judgment - Calculation of deficiency - Where mortgagee buys property at sale - In 2003, the MacLeans borrowed $18,000 from the Toronto-Dominion Bank and secured the debt with a mortgage on a property in New Waterford - By 2014, the loan had been paid down to about $10,000, but the MacLeans fell into default - The bank sued for foreclosure and sale - It also claimed "judgment for the deficiency, if any, between the amount realized by sale. ![]() Mortgage actions - Foreclosure and sale - Deficiency judgment - Calculation of deficiency. Mortgage actions - Foreclosure and sale - Deficiency judgment - Limitations on. Mortgage actions - Action for foreclosure and sale - Powers of court. ![]() The Nova Scotia Supreme Court granted the bank judgment for $6,877. The bank resold the property for $4,000 and now claimed a deficiency judgment of $16,967. The bank purchased the property at the foreclosure auction for $1,150. It settled the mortgage debt at $10,877 plus costs. An order for foreclosure and sale was obtained. MacLean tendered a bank draft for $10,495, but that was not enough to cover the debt plus mounting costs. and the aggregate of the sums claimed above." The sums included principal, interest, protective disbursements, and costs. It also claimed "judgment for the deficiency, if any, between the amount realized by sale. By 2014, the loan had been paid down to about $10,000, but the MacLeans fell into default. In 2003, the MacLeans borrowed $18,000 from the Toronto-Dominion Bank and secured the debt with a mortgage on a property in New Waterford.
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