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IN RE LYONS

Bankruptcy No. 84 B 1459, Adv. No. 84 A 579.

46 B.R. 604 (1985)

In re Theodore J. LYONS, Jr. and Karolyn F. Lyons, Debtors. Theodore J. LYONS, Jr. and Karolyn F. Lyons, Plaintiffs, v. FIRST PENNSYLVANIA BANK, Defendant.

United States Bankruptcy Court, N.D. Illinois, E.D.

February 15, 1985.

Attorney(s) appearing for the Case

Daniel G. Loftus, Chicago, Ill., for First Pennsylvania Bank.

Geoffrey C. Miller, Matteson, Ill., for debtor.

MEMORANDUM AND ORDER

ROBERT L. EISEN, Bankruptcy Judge.

At issue in this matter is whether a debtor in a Chapter 7 bankruptcy proceeding may use subsections 506(a) and (d) of the Bankruptcy Code to render part or all of the mortgages on his principal residence an unsecured claim. For reasons set forth in this memorandum, it is determined that the debtor herein may do so.

FACTS

The debtors ("the Lyons") filed their petition under Chapter...

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