In re Langlais
Opinion
Lead Opinion
Pyle, J.
MEMORANDUM OF DECISION
The Debtors’ Objection to Claim No. 5, item no. 2, filed by Mutual Savings and Loan (hereinafter referred to as “Mutual”) came on regularly for hearing on February 13,1981. There were no appearances by or on behalf of Mutual. The Court, having considered the evidence and arguments of counsel, renders its Memorandum of Decision as follows.
FACTS
Mutual’s claim in the amount of $39,-429.94 is secured by a first mortgage on certain real property in Isabella County, Michigan. On the face of the claim, the property is stated to have a fair market value of $48,000.00.
The Debtors list the claim of Mutual in their schedules as a contingent liability, arising from a home which they sold in 1980. The Debtors object to the allowance of Mutual’s claim in any amount for the reason that the claim is fully secured by the real property and should not be paid through the Debtor’s Chapter 13 plan. At the time of the hearing on this objection, there was no evidence presented or allegations made that the home loan note and mortgage were in default.
At the hearing, the Court ordered that no payments were to be made on this claim by the Chapter 13 Trustee pending further…