In re: TANDALA MIMS AKA TANDALA WILLIAMS
Case No. 10-14030 (MG)
MEMORANDUM OPINION AND ORDER DENYING WELLS FARGO BANK, N.A.’S MOTION FOR TERMINATION OF THE AUTOMATIC STAY
Wells Fargo Bank, N.A. (“Wells Fargo”) moves the Court for an order lifting the automatic stay with regard to 1167 Grenada Place, Bronx, NY 10466 (the “Property”) pursuant to section 362(d) of the Bankruptcy Code (the “Motion”). Wells Fargo desires to exercise its rights under a mortgage (the “First Mortgage” or “Mortgage”) and promissory note (the “Note”), including, but not limited to, the foreclosure of the Property. (ECF Doc. # 9.) The Court held a hearing on the Motion on October 20, 2010 and took the matter under submission. The Court denies Wells Fargo’s motion to lift the automatic stay for the reasons enumerated below.
Full Opinion below…
In re: TANDALA MIMS AKA TANDALA WILLIAMS Case No. 10-14030 (MG)