Sheppard v. GMAC Mortgage Corp. (In Re Sheppard)

Opinion

DIANE WEISS SIGMUND, Bankruptcy Judge.

Before the Court is the Motion of GMAC Mortgage Corp. (“GMAC”) for Summary Judgment (the “Motion”) on the Complaint of the Debtor, John P. Sheppard and his non-debtor wife, Susan Sheppard (collectively, the “Plaintiffs”). For the reasons stated herein, the Motion is granted.

FACTUAL AND PROCEDURAL BACKGROUND

On or about September 28, 1990, Plaintiffs received a $160,000 loan from GMAC secured by a mortgage on Plaintiffs’ residence (the “Original Loan”). Compl. & Answer ¶ 5. 1 Plaintiffs subsequently fell into arrears on the Original Loan and GMAC…