IN RE KEARNS

BAP No. CC-03-1529-KMoA. Bankruptcy No. SA 96-13879-RA. Adversary No. SA 98-01747-RA.

314 B.R. 819 (2004)

In re Jeffrey KEARNS and Dinetha Kearns, Debtors. Jeffrey Kearns and Dinetha Kearns, Appellants, v. Transamerica Home Loan, Appellee.

United States Bankruptcy Appellate Panel of the Ninth Circuit.

Filed August 27, 2004.

As Amended September 2, 2004.


Attorney(s) appearing for the Case

Dennis C. Winters, Santa Ana, CA, for Jeffrey Kearns, Dinetha Kearns, Appellants.

Steven B. Scow, Sheppard, Mullin, Richter & Hampton LLP, Costa Mesa, CA, for Transamerica Home Loan, Appellee.

Before KLEIN, MONTALI, and ALLEY, Bankruptcy Judges.


OPINION

KLEIN, Bankruptcy Judge.

This secured consumer loan question of apparent first impression requires that we harmonize California's so-called "one-action/security-first" real estate foreclosure statute with its "mixed collateral" variation of Uniform Commercial Code § 9-604, which regulates enforcement of rights when one loan is secured by both real and personal property.

The narrow question is whether the exercise of nonjudicial remedies...

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