MBank Garland v. Skinner (In Re Skinner)

MEMORANDUM OPINION

HAROLD C. ABRAMSON, Bankruptcy Judge.

The Court writes to announce its decision in the above-referenced adversary proceeding. According to the Statement of Stipulated Facts, filed May 15, 1987, the Debtor, Felix E. Skinner, granted a mortgage on rural property in Hurst County, Texas. The property is a tract of land containing 91.93 acres. On November 2, 1979, the Skinners obtained a loan of $60,000.00 from Century Bank & Trust which is now known as MBank Garland (the “Bank”). The loan was used for F & J Contracting, Inc., a company which the Skinners and their son owned. The…