In re Marques

MEMORANDUM DECISION

Creditor JPMorgan Chase Bank, N.A. as acquirer of certain assets and liabilities of Washington Mutual Bank from the FDIC, as receiver of Washington Mutual Bank (“Movant”) moves for relief from the automatic stay pursuant to 11 U.S.C. §§ 362 (d)(1), (2) and (4) (the “Motion”) with respect to real property located at 33962 Malaga Drive, Dana Point, California (the “Property”), The Court has jurisdiction over this proceeding pursuant to 28 U.S.C. § 1334 and General Order 13-05, filed July 1, 2013, of the United States District Court for the Central District of California. This is a core proceeding under 28 U.S.C. § 157 (b)(2)(G). This Memorandum Decision constitutes the Court’s findings of fact and conclusions of law in this matter as required by Federal Rule of Bankruptcy Procedure 7052 (incorporating Federal Rule of Civil Procedure 52 with certain modifications).

The Court held an evidentiary hearing in this matter on March 28, 2016 at which Movant’s representative and debtor Reynaldo F. Marques (“Debtor”) testified.

FINDINGS OF FACT

On or about August 14, 2006 Debtor and Debtor’s spouse executed an Adjustable Rate Note in the original principal amount of…