Mildred Charles

IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
at Greenbelt
In re: 	Case No. 08-19041PM
Chapter 13
Mildred Charles,
Debtor.
AMENDED MEMORANDUM OF DECISION
This matter came before the court on the unopposed "Debtor's Motion to Avoid
Lien of Principal Residence Pursuant to 11 U.S.C. § 506." The Motion was denied by
the court on October 14, 2008 (#45). This amended decision does not change that
ruling.
The Debtor asserts that Lendmark Financial Services, Inc., the holder of the
second deed of trust against the Debtor's property located at 13107 Ripon Place, Upper
Marlboro, MD 20772, in the approximate amount of $31,338.31, is wholly unsecured
and avoidable. First Franklin c/o Home Loan Services, the holder of the first deed of
trust, is said to be owed approximately $281,172.19.
In support of the Motion, the Debtor referred to the sales of four properties and
assigned a value of $279,075.00. She also attached a copy of the current county tax
assessment for the property as an exhibit to her Motion reflecting valuation of
$293,420.00 as of January 1, 2008. The court finds that the tax assessed value
calculated by the Maryland Department of Assessments and Taxation reflects the fair
Date signed October 14, 2008
Entered: October 15, 2008 Case 08-19041 Doc 47 Filed 10/15/08 Page 1 of 2

market value of the property, rendering the lien of Lendmark Financial Services, Inc.
partially secured.
Inasmuch as only wholly unsecured junior liens on a debtor's principal
residence escape application of the anti-modification provision of 11 U.S.C.
§ 1322(b)(2) and because the court finds that the Debtor's residence has a current fair
market value in excess of the outstanding balance due on the senior lien, the junior
lien cannot be avoided as wholly unsecured.
In re Bartee, 212 F.3d 277 (CA5 2000);
In
re Dziendziel, 295 B.R. 184 (BC W.D.N.Y. 2003).
cc: 	Debtor
Debtor's Counsel
Lendmark Financial Services, Inc.
Lendmark Financial Services, Inc. - Counsel
Chapter 13 Trustee
United States Trustee
End of Memorandum
Case 08-19041 Doc 47 Filed 10/15/08 Page 2 of 2