Bradley v. United States Ex Rel. Farmers Home Administration, U.S. Department of Agriculture (In Re Bradley)

MEMORANDUM OPINION

H. CLYDE PEARSON, Chief Judge.

The issue before the Court is whether the Debtors may retain their real property, which is their residence, subject to foreclosure proceedings under a Deed of Trust of the Defendant prior to the filing of their Chapter 13 petition.

The facts stipulated by the parties are as follows: On September 10, 1981, the Debt ors executed a promissory note, in the amount of $42,570.00, to the Farmers Home Administration (FmHA) evidencing their obligation for monies borrowed to fund the purchase of their principal residence. They also executed a Deed of Trust…