Borm v. CitiMortgage, Inc. (In re Borm)
- Citation:
- CitiMortgage, Inc. v. Borm (In re Borm), Case No. 13-6065 (B.A.P. 8th Cir. Apr. 2, 2014)
- Tag(s):
-
- Ruling:
- Bankruptcy court abused its discretion in denying mortgage creditor's request for relief from automatic stay when debtors missed significant number of post-petition mortgage payments contrary to debtors' chapter 13 plan.
- Procedural context:
- Appeal from the decision of the United States Bankruptcy Court for the District of Minnesota - Minneapolis denying homestead mortgage creditor's request for relief from the automatic stay.
- Facts:
- Debtors agreed to make post-petition mortgage payments in their chapter 13 plan. Debtors failed to make fifteen post-petition mortgage payments as of the date of the stay relief hearing. Although there was sufficient equity in the property, and although the bankruptcy court found that the debtors had made some post-petition mortgage payments when the mortgage creditor's stay relief motion alleged that none were made, the bankruptcy appellate panel found that the bankruptcy court abused its discretion in failing to grant the mortgage creditor relief from the automatic stay. The debtors’ equity in the property was irrelevant because the debtors had missed a significant number and amount of post-petition mortgage payments.
- Judge(s):
- Federman, Schermer, and Nail
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