Gold v. New Century Mortgage Corp. (In Re Salinitro)

Opinion Regarding Cross-Motions for Summary Judgment

STEVEN RHODES, Chief Bankruptcy Judge.

This matter is before the Court on the trustee’s motion for partial summary judgment. New Century Mortgage filed a response and a cross-motion for summary judgment. The Court conducted a hearing on September 18, 2006, and took the matter under advisement.

I

On April 13, 2005, the debtors purchased a home at 8073 Whitefield, Dearborn, MI for $163,000. The debtors obtained two loans from New Century in the amounts of $130,400 and $32,600. The debtors executed first and second mortgages in those-amounts in…