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IN RE WALLEN

Bankruptcy No. 81-07569(CA)13, Adv. No. 81-3573.

15 B.R. 559 (1981)

In re Robert A. WALLEN and Barbara A. Wallen, aka Barbara A. Collar, Debtors. Robert A. WALLEN and Barbara A. Wallen, Plaintiffs, v. FIDELITY FEDERAL SAVINGS & LOAN ASSOCIATION, a corporation; and Gateway Mortgage Corporation, a California corporation, Defendants.

United States Bankruptcy Court, C.D. California.

November 24, 1981.

Attorney(s) appearing for the Case

Alan L. Green, Law offices of Fred Crane, Riverside, Cal., for plaintiffs.

Sulmeyer, Kupetz, Baumann & Rothman, Los Angeles, Cal., for debtor.

Andrew E. Katz, Hahn, Cazier & Leff, Los Angeles, Cal., for defendants.

MEMORANDUM OF DECISION

CALVIN K. ASHLAND, Bankruptcy Judge.

The facts in this case are not in dispute. Debtors (Wallens) purchased a certain piece of residential real property which stood as security for a promissory note executed by the previous owners in favor of Fidelity Federal Savings and Loan Association (Fidelity) as beneficiary, and Gateway Mortgage Corporation, a subsidiary of Fidelity, as Trustee. Fidelity...

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