Provident National Bank v. First Pennsylvania Bank, N.A. (In Re Johnson)

OPINION

DAVID A. SCHOLL, Bankruptcy Judge.

A. INTRODUCTION

The instant proceeding, involving an issue of the relative priorities of (a) a mortgage securing future advances and (b) a mortgage intervening prior to the advances, presents a question addressed but not definitively resolved under controlling Pennsylvania law. Believing that Pennsylvania no longer clings to a minority position that the recording of the intervening mortgage is sufficient notice to the mortgagee making subsequent future advances to subordinate this otherwise prior mortgage, we conclude that the mortgagee making advances…