In re Denaro

DECISION & ORDER

Bucki, Chief U.S.B.J., W.D.N.Y.

The present dispute involves a determination of the replacement value of a manufactured home, for the purpose of ascertaining the distribution required to a partially secured creditor under the debt- or’s Chapter 13 plan.

James and Jennifer Denaro own real property on Riley Street in West Valley, New York. In 2011, they purchased a modular home for installation on that parcel. Contemporaneously, they gave to 21st Mortgage Corporation a security interest in the structure, but not in the underlying real estate. After defaulting on payments due to…