Raleigh Federal Savings Bank v. Godwin

[99 NCApp Page 762] The primary issue on appeal is whether the trial court properly granted summary judgment in favor of plaintiff. Summary judgment
is proper when the pleadings, together with any depositions, interrogatories, admissions on file, and supporting affidavits
show that there is no genuine issue as to any material fact and that a party is entitled to judgment as a matter of law. N.C.
Gen. Stat. § 1A-1, Rule 56 (1983). Once the moving party has met its burden of proof, the burden shifts to the nonmoving party
to establish specific facts showing that there is a genuine issue for trial. Quality Inns International, Inc. v. Booth, Fish,
Simpson, Harrison & Hall, 58 N.C. App. 1, 292 S.E.2d 755 (1982). Because defendants admitted executing
the note and subsequently defaulting, nothing else appearing, plaintiff was entitled to judgment as a matter of law. See,
e.g., Carroll v. Brown, 228 N.C. 636, 46 S.E.2d 715 (1948). Defendants, however, relying on the defense of N.C. Gen. Stat.
§ 45-21.36 (1984), contend that the trial court erred in granting plaintiff's motion for summary judgment because there was
a genuine issue of fact concerning the value of the property at the time of foreclosure. Defendants contend that pursuant
to G.S. § 45-21.36 they were entitled to show that the property sold was worth the amount of the debt secured by it or that
the amount bid was substantially less than its true value.