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IN RE BLAIS

BAP No. EP 13-056. Bankruptcy Case No. 12-20972-PGC.

512 B.R. 727 (2014)

Michael P. BLAIS, d/b/a Straightline Builders, and Melissa A. Blais, Debtors. U.S. Bank National Association, as Trustee for Holders of Bear Stearns Asset-Backed Securities I Trust 2006-IM1, Asset-Backed Certificates, Series 2006-IM1, Appellant, v. Michael P. Blais and Melissa A. Blais, Appellees.

United States Bankruptcy Appellate Panel of the First Circuit.

July 8, 2014.

Attorney(s) appearing for the Case

Michael K. Martin, Esq., and Jisel E. Lopez, Esq., Portland, on brief for Appellant.

James F. Molleur, Esq., Jennifer G. Hayden, Esq., Biddeford, and Jessica A. Lewis, Esq., Portland, on brief for Appellees.

Before FEENEY, BAILEY, and HOFFMAN, United States Bankruptcy Appellate Panel Judges.

HOFFMAN, Bankruptcy Judge.

U.S. Bank National Association, as Trustee for Holders of Bear Stearns Asset-Backed Securities I Trust 2006-IM1, Asset-Backed Certificates, Series 2006-IM1 (the "Bank"), appeals from the bankruptcy court order (the "Order") sustaining the objection of the debtors, Michael P. Blais and Melissa A. Blais, to its secured claim. For the reasons discussed below, we VACATE the Order and REMAND to the bankruptcy court for...

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