MEMORANDUM OPINION
JOHN H. SQUIRES, Bankruptcy Judge.
This matter comes before the Court on the motion of Greenpoint Mortgage Corporation (the "Creditor") for relief from the automatic stay seeking annulment, or in the alternative, modification of the stay. For the reasons set forth herein, the Court grants the Creditor's motion and modifies the automatic stay to allow the Creditor to proceed with a mortgage foreclosure action in the state court....
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