In re Sarafoglou
Jun
29
2006
Ruling
Creditor was denied relief from automatic stay since creditor was adequately protected by equity cushion.
Procedural posture
Movant, the servicing agent for creditor, filed a motion for an order confirming that the automatic stay, 11 U.S.C. § 362, was not in effect in debtor's chapter 13 case and was no bar to creditor's foreclosure of its mortgage. Creditor requested relief from stay on account of its mortgage on debtor's residence because of a lack of adequate protection and debtor having no equity in her residence. Debtor requested that the stay take effect.
ABI Membership is required to access the full summary of In re Sarafoglou Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
: