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IN RE WILLETT

Bankruptcy No. 95-10866. Motion No. JPB-5.

196 B.R. 732 (1996)

In re Gregory W. WILLETT and Elaine C. Willett, Debtors. Gregory W. WILLETT and Elaine C. Willett, Movants, v. MIDFIRST BANK, State Savings Bank and Gary J. Gaertner, Trustee, Respondents.

United States Bankruptcy Court, W.D. Pennsylvania.

June 4, 1996.

Attorney(s) appearing for the Case

Leon P. Haller, Purcell, Krug & Haller, Harrisburg, PA.

Joseph P. Burt, Shamp, Arduini and Hain, Erie, PA, for debtors.

Gary J. Gaertner, Trustee, Pittsburgh, PA.

MEMORANDUM

WARREN W. BENTZ, Bankruptcy Judge.

The issue before the Court is what interest rate should be applied to arrearages on a debt secured by a mortgage on the Debtors' residence, to be cured by installment payments over the term of a Chapter 13 Plan. The Debtors propose the state judgment rate of 6%; the mortgagee proposes the contract rate of 10%, which it alleges is also the current market rate of interest.

The Debtor does not assert...

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