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Bank v. Boesen

Court of Appeal of Iowa

September 5, 2013

FREEDOM FINANCIAL BANK, Plaintiff-Appellee,
v.
MAUREEN ANN BOESEN, Defendant-Appellant.

Appeal from the Iowa District Court for Polk County, Robert B. Hanson, Judge.

Maureen Boesen appeals from the district court's ruling that funds from the sale of real estate should be used to pay the foreclosing bank the interest, late fees, and attorney fees incurred after the sale of the property.

Louis Hockenberg of Sullivan & Ward, P.C., West Des Moines, for appellee.

Adam Van Dike, Des Moines, for appellant.

Considered by Vogel, P.J., and Danilson and Tabor, JJ.

DANILSON, J.

Maureen Boesen appeals from the district court's ruling awarding Freedom Financial the interest, late fees, and appellate attorney fees the bank incurred after the sale of the foreclosed property. She contends that the bank is only entitled to fees and expenses incurred through the date of sale. Upon review, we affirm the ruling of the district court.

I. Background Facts and Proceedings.

After a prior appeal between the parties, a new issue arose after remand. In the prior appeal, our supreme court briefly outlined the facts:

Edward J. Boesen obtained a purchase-money mortgage from Freedom Financial Bank to invest in commercial real estate in Ankeny, Iowa. The signature of his wife, Maureen, was forged in executing the purchase-money mortgage. After Edward's death, Freedom Financial attempted to foreclose its mortgage, but Maureen and the Boesen Estate asserted Maureen's fraudulent signature voided the mortgage.
The district court granted Freedom Financial summary judgment, concluding its purchase-money mortgage was superior to Maureen's statutory dower interest and the estate's other debts and charges. The district court ordered any excess sale proceeds to be paid to the estate, not Maureen. The court of appeals affirmed the district court's award of summary judgment to Freedom Financial, but reversed the district court's determination that the foreclosure sale surplus be paid to the estate and instead held Maureen's statutory dower interest took priority over the estate's other debts and charges.

Freedom Fin. Bank v. Estate of Boesen, 805 N.W.2d 802, 805 (Iowa 2011). The supreme court affirmed the court of appeals decision and remanded for further proceedings. Id.

The decree of foreclosure entered on February 25, 2009, provided judgment in favor of the bank in the amount of "$228, 056.42, plus interest at the rate of 7.25% after August 5, 2008; for all court costs accruing herein; for abstracting fees of $265; $1, 078 for insurance costs, for attorney fees of $10, 500 through February 25, 2009; and for other expenses incurred by Plaintiff herein including advancements made by Plaintiff for real estate taxes and other sums."[1]The decree also provided that any surplus remaining after the sale be paid to Edward Boesen's estate. However as noted, the supreme court subsequently determined the remaining surplus should be paid to Maureen.

On April 29, 2009, the parcel was sold to the City of Ankeny for $290, 000. The bank placed the proceeds[2] from the sale in an escrow ...


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