IN RE SMITH

No. 02-15275 B.

288 B.R. 675 (2003)

In re Scott V. SMITH, Debtor.

United States Bankruptcy Court, W.D. New York.

January 31, 2003.


Attorney(s) appearing for the Case

Peter D. Grubea, Esq., Buffalo, NY, for Debtor.

Mary Jane & Robert G. Zak, Williamsville, NY, Creditors Pro Se.

Albert J. Mogavero, Esq., Buffalo, NY, Chapter 13 Trustee.


CARL L. BUCKI, Bankruptcy Judge.

This case illustrates the difference between a true purchase money mortgage that a buyer gives to the seller of real estate and a mortgage given to a third party as collateral for a loan of money that the borrower uses to finance the cost of purchase.

The present motion arises under section 1322(b)(2) of the Bankruptcy Code, which states that a plan in chapter 13 may "modify the rights of holders of secured claims, other than...

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