In re Taddeo

685 F.2d 24 (1982)

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In re Taddeo

United States Court of Appeals for the Second Circuit
685 F.2d 24 (1982)

Facts

Joseph and Ellen Taddeo (debtors) defaulted on their home mortgage. The Taddeos’ mortgagee, Elfriede Di Pierro (creditor), accelerated the mortgage and commenced foreclosure proceedings. The Taddeos filed for bankruptcy under Chapter 13 of the Bankruptcy Code (code), which provided them with an automatic stay of the foreclosure. Di Pierro was the Taddeos’ only creditor. The Taddeos proposed curing their default and reinstating their mortgage under code § 1322(b)(5), but Di Pierro rejected their offer.

Rule of Law

Issue

Holding and Reasoning (Lumbard, J.)

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