Brace v. State Farm Mutual Automobile Insurance (In Re Brace)

DECISION and ORDER

ELLIS W. KERR, Bankruptcy Judge.

PROCEDURAL POSTURE

Plaintiffs, Dallas Brace and Shirley Brace, are Debtors pursuant to Chapter 7 of the United States Bankruptcy Code and filed the instant adversary proceeding against Defendant, State Farm Mutual Automobile Insurance Company, to determine the status of Defendant’s mortgage on the real property of Plaintiffs. The essential allegations of Plaintiffs’ complaint are as follows:

1) Plaintiffs’ residence has been appraised as having a market value of $18,500.00;

2) Winter’s National Bank has a first mortgage on the Plaintiffs’…