Marble Savings Bank v. Johnson (In Re Johnston)

MEMORANDUM AND ORDER

CHARLES J. MARRO, Bankruptcy Judge.

This adversary proceeding was brought by the Marble Savings Bank pursuant to § 362(d) of the Bankruptcy Code, 11 U.S.C. § 362, for relief from the automatic stay imposed by § 362(a) upon the debtor’s filing a Petition for Relief under Chapter 13 of the Code on January 4, 1983. The Marble Savings Bank seeks to modify the stay in order to proceed with its foreclosure action instituted on December 10, 1982 due to the failure of the debtor to abide by her obligations as set forth in a promissory note and mortgage deed, executed in favor of…