Bank of Ravenswood v. Patzold

DECISION

McMILLEN, District Judge.

Plaintiff as mortgagee filed a complaint in the bankruptcy proceedings of its mortgagors, defendants Patzold, in order to clarify plaintiff’s right to obtain a sheriff’s deed in the foreclosure proceedings which had previously been filed against the Pat-zolds in the Illinois state court. A foreclosure sale had been held, plaintiff was the successful bidder, and two days before the mortgagors’ period of redemption expired, they filed a Chapter 13 petition. The Bankruptcy Court’s automatic stay was then preventing the sheriff from executing the appropriate deed…