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IN RE RIVERS

Bankruptcy No. LA 83-17071-CA, Ref. No. M4-00893-CA.

39 B.R. 608 (1984)

In re Bobby M. RIVERS and Barbara T. Rivers, Debtors. Herbert S. McREYNOLDS, Plaintiff, v. Bobby M. RIVERS and Barbara T. Rivers, Defendants.

United States Bankruptcy Court, C.D. California.

June 1, 1984.

Attorney(s) appearing for the Case

Robert A. Hessling, Cohen, England & Whitfield, Oxnard, Cal., for plaintiff Herbert S. McReynolds.

Peter J. Celeste, Ventura, Cal., for debtors Bobby and Barbara Rivers.

MEMORANDUM OF DECISION

(Complaint to Modify the Stay)

CALVIN K. ASHLAND, Bankruptcy Judge.

FACTS

The debtors executed a promissory note for $40,000 in favor of Herbert S. McReynolds on October 4, 1982. The note was secured by two parcels of real property. One deed of trust secured an unimproved parcel located in Lake Arrowhead, California. The other deed of trust secured debtors residence in Oxnard, California.

Debtors defaulted...

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