United States Bankruptcy Appellate Panel For the Eighth Circuit
Submitted March 26, 2014.
Appeal fro United States Bankruptcy Court for the District of Minnesota - Minneapolis.
For Eric James Borm, Valorie Dawn Pearson, Debtors: Steven Mark Gale, Stuart E. Gale, GALE LAW FIRM, Bloomington MN.
For CitiMortgage, Inc., Creditor: Jessica Blanner, Kevin Terrence Dobie, Paul Alan Weingarden, USSET & WEINGARDEN, Minneapolis, MN.
Before FEDERMAN, Chief Judge, SCHERMER and NAIL, Bankruptcy Judges.
SCHERMER, Bankruptcy Judge
CitiMortgage, Inc. (" the Creditor" ) appeals from a denial by the bankruptcy
court of its motion for relief from the automatic stay in the Chapter 13 bankruptcy case of Eric James Borm and Valorie Dawn Pearson (the " Debtors" ). We have jurisdiction over this appeal from the final order of the bankruptcy court. See 28 U.S.C. § 158(b). We reverse.
The issue in this case is whether the bankruptcy court abused its discretion when it denied the Creditor's motion for relief from the stay.
On May 6, 2009, the Debtors filed a petition for relief under Chapter 13 of Title 11 of the United States Code (the " Bankruptcy Code" ). A few months later, the Debtors filed their modified Chapter 13 plan, which was confirmed in September, 2009. The Debtors are the owners of real property that is their homestead. It is undisputed that the Debtors executed a promissory note and a mortgage on the ...