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MATTER OF KENNEDY

Bankruptcy No. 92-12743.

158 B.R. 589 (1993)

In the Matter of John and Cathleen KENNEDY, Debtors.

United States Bankruptcy Court, D. New Jersey.

September 10, 1993.

Attorney(s) appearing for the Case

Gary Dinenberg, for debtors.

Scott Sherman, Federman & Phelan, for Dominion Bancshares Mortg. Co.

OPINION

JUDITH H. WIZMUR, Bankruptcy Judge.

Debtors John and Cathleen Kennedy seek confirmation of their Chapter 11 plan. The plan proposes to pay off a foreclosure judgment on their residence over a twenty year period, with interest. The holder of the foreclosure judgment, Dominion Bancshares Mortgage Company, ("Dominion"), objects to the plan.

Dominion acquired a purchase money mortgage on the debtors' residence in 1986. Debtors purchased...

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