Alaska Housing Finance Corporation v. Mary Lou Love

943 F.2d 55 NOTICE: Ninth Circuit Rule 36-3 provides that dispositions other than opinions or orders designated for publication are not precedential and should not be cited except when relevant under the doctrines of law of the case, res judicata, or collateral estoppel. ALASKA HOUSING FINANCE CORPORATION, Plaintiff-Appellant, v. Mary Lou LOVE, Defendant-Appellee. No. 90-35767. United States Court of Appeals, Ninth Circuit. Submitted Aug. 23, 1991. * Decided Sept. 9, 1991. Before TANG, REINHARDT and RYMER, Circuit Judges. 1 MEMORANDUM * 2 Alaska Housing Finance Corporation appeals the bankruptcy court's decision that a chapter 13 debtor may avoid the "undersecured" portion of a deed of trust lien against the debtor's principal residence. Alaska Housing appealed to the district court. The district court affirmed. Alaska Housing appeals. We affirm. DISCUSSION 3 On October 3, 1989, Mary Lou Love filed a petition under Chapter 13 of Title 11, U.S.Code, in the United States Bankruptcy Court for the district of Alaska. At that time, Alaska Housing held a first deed of trust lien on a condominium owned by Love. The condominium was her principal residence. The original loan secured by…