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IN RE EXCELLENCY HOMES, INC.

Bankruptcy No. 84-02757.

72 B.R. 5 (1985)

In re EXCELLENCY HOMES, INC., Debtor.

United States Bankruptcy Court, E.D. Wisconsin.

July 18, 1985.

Attorney(s) appearing for the Case

Floyd A. Harris, Milwaukee, Wis., for Trustee.

Charles W. Foran, Milwaukee, Wis., for Badger.

Robert Steuer, Milwaukee, Wis., for Debtor.

DECISION

D.E. IHLENFELDT, Bankruptcy Judge.

On July 10, 1984, when the debtor filed its chapter 7 petition, it was the owner of three parcels of real estate, each of which was subject to a mortgage in favor of Badger Savings Association (Badger), and each of which was the subject of a pending state court foreclosure action.

Although each mortgage contained an assignment of rents clause, the properties had been appraised in amounts substantially in...

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