IN RE COBBS

Bankruptcy No. 81-05134G, Adv. No. 82-0694G.

20 B.R. 606 (1982)

In re Jerrold Layton COBBS, Jermain Cobbs a/k/a Darlene L. Cobbs, Debtors. FIDELITY BOND & MORTGAGE COMPANY, Plaintiff, v. Jerrold Layton COBBS, Jermain Cobbs, a/k/a Darlene L. Cobbs, a/k/a Dariling Cobbs and Leonard Goldberger, Trustee, Defendants.

United States Bankruptcy Court, E.D. Pennsylvania.

June 7, 1982.


Attorney(s) appearing for the Case

Sheldon C. Jelin, Philadelphia, Pa., for plaintiff, Fidelity Bond and Mortg. Co.

Michael Donahue, Delaware County Legal Services, Chester, Pa., for defendants, Jerrold Layton Cobbs, Jermain Cobbs a/k/a Darlene L. Cobbs.

James J. O'Connell, Philadelphia, Pa., trustee.


OPINION

EMIL F. GOLDHABER, Bankruptcy Judge:

The issue presented in the instant case is whether the mortgagee is entitled to relief from the automatic stay provisions of § 362(a) of the Bankruptcy Code ("the Code") to permit it to proceed with its foreclosure action against the debtors' residence. We conclude that the mortgagee is entitled to such relief pursuant to § 362(d)(2) of the Code because we find that the debtors have no equity in their...

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