read 26.4 and answer all questions clearly

1. Do you think it's ethical for the defendant in foreclosure cases to receive the surplus?

2. Should defendants be liable for deficiencies?

d t 1 26.4 Deficiency Judgment Sally Fitch obtained a loan from Buffalo Federal Savings and Loan Associa- tion (Buffalo Federal). She signed a promissory note for $130,000 with interest at 17 percent. The loan was secured with a real estate mortgage on property owned by Fitch located in Johnson County, Wyoming. Wyo- ming did not have an antideficiency statute. Four years later, Fitch was in default on the note. When she was unable to pay the loan to current status, Buffalo Federal sent her a notice of foreclosure. After publication of proper public notice, the sheriff conducted the sale as advertised on the steps of the Johnson County Court- house. The property sold for a high bid of $66,000. Buffalo Federal applied the $66,000 to the $150,209 balance on the note and sued Fitch to recover a judg- ment for the deficiency of $84,209. Who wins? Fitch V. Buffalo Federal Savings and Loan Association, 751 P.2d 1309, 1988 Wyo. Lexis 27 (Supreme Court of Wyoming)