In Re Wright, Egan & Associates

OPINION

EMIL F. GOLDHABER, Chief Judge:

The matter for resolution is whether we should grant a mortgagee’s motion for relief from the automatic stay under 11 U.S.C. § 362(d) of the Bankruptcy Code (“the Code”) in order to allow it to foreclose its mortgage on the basis that the debtor has failed to make adequate periodic payments on the debt. For the reasons outlined below, we will grant the motion for relief from the automatic stay.

The facts of this controversy are as follows: 1 In September of 1985 one Kenneth H. Smith (“Smith”) borrowed $6,750,000.00 from- BancAmerica Business Credit…