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Supreme Court of Texas rules on equitable subrogation of refinancing lender
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Court Report
Friday, February 12, 2021
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A refinancing lender didn’t foreclose its property within the statutory limitations period after borrowers defaulted. The proceeds had been used to discharge to existing. A court of appeals concluded the refinance lender’s failure to timely foreclose its lien precluded it from seeking recourse through equitable subrogation. Shortly after the appellate court heard the case, the Supreme Court of Texas heard a similar case and ruled differently. The current case was then brought to the Supreme Court of Texas for review. Read on for more details.
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