MEMORANDUM AND ORDER
MERRITT S. DEITZ, Bankruptcy Judge.
In a case of first impression, we must decide whether the purchase money nature of a lien survives a subsequent refinancing of the same loan by the same creditor. The question is crucial in bankruptcy because if the purchase money character of the obligation is lost upon refinancing, the lien may be avoided by the debtor. On the other hand, if the purchase money nature of the security interest survives...
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