Daniels v. Certified Mortgage Corp. (In Re Certified Mortgage Corp.)

FINDINGS OF FACT, CONCLUSIONS OF LAW AND MEMORANDUM OPINION

ALEXANDER L. PASKAY, Chief Judge.

THIS IS a Chapter 11 business reorganization case and the matter under consideration is a complaint filed by Homer R. Daniels and Cletia P. Daniels, his wife.

In Count I of the complaint, the Plaintiffs seek relief from the automatic stay imposed by § 362(a) of the Code on the ground that the Debtor lacks equity in the subject property on which the Plaintiffs hold a valid mortgage, that the mortgage is in default and that the property is not necessary to an effective reorganization. Thus, according to…