Goldome Realty Credit Corp. v. Saugstad

980 F.2d 737 NOTICE: Ninth Circuit Rule 36-3 provides that dispositions other than opinions or orders designated for publication are not precedential and should not be cited except when relevant under the doctrines of law of the case, res judicata, or collateral estoppel. GOLDOME REALTY CREDIT CORP., Creditor-Appellant, v. Mark Christian SAUGSTAD, f/dba/Construction and Equipment; Kathleen Celeste Saugstad, Debtors-Appellees. No. 91-35924. United States Court of Appeals, Ninth Circuit. Argued and Submitted Aug. 20, 1992. Submission Deferred Sept. 1, 1992. Resubmitted Dec. 8, 1992. Decided Dec. 10, 1992. Before HUG, D.W. NELSON and T.G. NELSON, Circuit Judges. 1 MEMORANDUM * 2 On January 14, 1986, the Saugstads purchased their home with the aid of a mortgage loan that was secured by a deed of trust against the residence. The promissory note and deed of trust were subsequently assigned to Goldome Realty Credit Corporation (Goldome). The Saugstads filed their Chapter 13 bankruptcy petition on November 27, 1989. Because of a downturn in the Alaskan economy at the time the petition was filed, the fair market value of the residence had fallen to $81,090, well below the $125,000…