Summary:
In foreclosing on a Deed of Trust, the Trustee was paid costs and expenses consisting of a commission, pursuant to N.C.G.S. § 45-21.15(a), of 5% of the highest bid and Trustee's attorneys fees of 15% of the outstanding promissory note on which behalf he was acting. This resulted in third lien-holder receiving only partial payment and the fourth lien-holder receiving nothing. The third lien-holder filed a motion with the Clerk of Superior Court arguing that under N.C.G.S.
