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In re Edwin Robert Bunke

Bankr. No.: 
93-10166
Chapter: 
12
Date of Decision: 
September 1, 1994
Issue: 
Whether fully secured creditor is entitled to relief from stay for cause where creditor has foreclosure judgment but where debtor could pay secured claim only if it may be modified by paying over time?
Ruling: 
Creditor was not entitled to relief for cause. Since a foreclosure sale had not taken place, the mortgage/contract relationship between the creditor and debtor still existed. Thus, the secured claim could be modified under ยงยง 1222(b)(2) and 1222(b)(9), and 1225(a)(5).
Full Bankruptcy Court Decision: