Swartzendruber v. Federal Deposit Insurance Corp. (In Re Swartzendruber)

MEMORANDUM OPINION AND ORDER

ROLAND J. BRUMBAUGH, Bankruptcy Judge.

THIS MATTER came on for hearing on April 13, 1987, on the Debtor’s Motion to Void Lien pursuant to 11 U.S.C. § 522(f). The parties stipulated to the following facts. On December 10, 1986, the Debtor and his wife sold their residence for $130,-000.00. From the gross proceeds of that sale, the following deductions were made:

1. $82,375.32 to Federal Land Bank to satisfy a 1st Deed of Trust.

2. $6,741.79 to Federal Deposit Insurance Corporation (“FDIC”) to satisfy a 2nd Deed of Trust.

3. $17,569.24 to FDIC to partially satisfy a…