Lausier v. Goodwin

MEMORANDUM OPINION

CONRAD K. CYR, Bankruptcy Judge.

On October 3, 1978, debtors borrowed $18,939.28 from Madawaska Federal Credit Union [credit union], contemporaneously executing a promissory note, a first real estate mortgage covering a lot of land [Crestwood Avenue lot], 1 and a security agreement granting a purchase-money security interest in a 1978 Young American mobile home in favor of the credit union. The debtors insist that the mortgaging of the Crestwood Avenue lot upon which the mobile home was later situated constituted a consumer credit transaction within the meaning of Title 9-A,…