Mt. Vernon Consumer Discount Co. v. Bracken (In Re Bracken)

OPINION

EMIL F. GOLDHABER, Bankruptcy Judge:

Two issues are embraced by this opinion. Firstly, is the debtor’s complaint for avoidance of a mortgage under § 506(a) and (d) of the Bankruptcy Code (“the Code”) and secondly is a creditor’s complaint for relief from the automatic stay pursuant to § 362(d). For the reasons stated herein we will avoid the mortgage and deny relief from the stay.

The facts of the case are as follows: 1 The debtors filed a petition for relief under chapter 7 of the Code on April 16, 1980. They own a parcel of realty which we find to be worth $1,000.00 2 which is…