No. 4:09-bk-04215-JMM.United States Bankruptcy Court, D. Arizona.
September 23, 2009
MEMORANDUM DECISION
JAMES MARLAR, Bankruptcy Judge
Creditor JPMorgan Chase Bank, N.A. (“Chase”) is a first lienholder on the Debtors’ residence. The Debtors’ plan seeks to bifurcate its claim (DN 16). Chase objects based upon the applicable case law and statutes (DN 26). Chase is correct. The plan cannot be confirmed unless Chase’s treatment is dealt with in accordance with § 1322(b)(2). Its pre-petition arrearages, if any, may be stretched out over a reasonable period. § 1322(b)(5).
The Chase objection to the Debtors’ plan, based on its real property lien, is SUSTAINED.
Notice Recipients
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