Annis v. First State Bank of Joplin

ORDER

ROSS T. ROBERTS, District Judge.

This matter comes before the court on appeal from a bankruptcy court decision denying appellants’ complaint to set aside a foreclosure sale pursuant to 11 U.S.C. § 548. For the reasons stated below, the cause will be remanded for further proceedings consistent with this order.

I. Statement of the Case

The property in dispute is appellants’ residence, which they owned for some 32 years, having purchased it for $1,500; it consists of two houses situated on four acres of land. On July 3, 1984, appellants borrowed $2,250.00 from First State Bank of Joplin…