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IN RE WADE

Bankruptcy No. 08-54456-R. Adversary No. 09-4298.

414 B.R. 161 (2009)

In re Todd and Leta WADE, Debtors. LaSalle Bank, Plaintiff, v. K. Jin Lim, Chapter 7 Bankruptcy Trustee for the Estate of Gerald Roux Homes, Inc., Todd C. Wade and Leta R. Wade, Defendants.

United States Bankruptcy Court, E.D. Michigan, Southern Division.

September 4, 2009.

Attorney(s) appearing for the Case

Rodney M. Glusac, Plymouth, MI, for Plaintiff.

Anthony James Miller, Detroit, MI, for Defendants.

Opinion Regarding Cross-Motions for Summary Judgment

STEVEN RHODES, Bankruptcy Judge.

I.

On November 22, 2006, the debtors, Todd and Leta Wade, purchased a home located at 35900 Abbey Court, Romulus, MI. from Gerald Roux Homes, Inc. ("GRH"). The purchase price was $241,000. The Wades financed the purchase through a mortgage to Mortgage Electronic Registration Systems, Inc. for $216,000. The mortgage...

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