United States Bankruptcy Court
Nebraska U.S. Bankruptcy Court
Notice of Bankruptcy Case Filing
A bankruptcy case concerning the debtor(s) listed below was filed under Chapter 7 of the United States Bankruptcy Code, entered on 04/03/2007 at 3:16 PM and filed on 04/03/2007.
Kelly S. King
2317 South 148th Ave.
Omaha, NE 68144
Bankruptcy Noticing Center
2525 Network Place, 3rd Floor
Herndon, Virginia 20171-3514
CERTIFICATE OF SERVICE - DEBTS
District/off: 0867-8 User: cmason Page 1 of 3 Date Rcvd: Apr 04, 2007
Case: 07-80645 Form ID: B9A Total Served: 128
The following entities were served by first class mail on Apr 06, 2007.
db +Kelly S. King, 2317 South 148th Ave., Omaha, NE 68144-2051
aty +Kathryn J. Derr, Derr & Howell, PCLLO, 11205 Wright Circle, Suite 210, Omaha, NE 68144-4719
BRB IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF NEBRASKA IN RE: ) CASE NO. 07-80645
) CHAPTER 7
KELLY S. KING, ) MOTION FOR RELIEF
) FROM AUTOMATIC STAY
COMES NOW the applicant, NCC Servicing, LLC (NCC), and in support of its motion to obtain relief from the automatic stay of 11 U.S.C. Section 362(a) to allow it to proceed with foreclosure proceedings in Sarpy County, Nebraska, shows the Court as follows:
1. This action is brought pursuant to 11 U.S.C. Section 362 and Bankruptcy Rules Nos. 4001 and 9013.
2. The above-named debtor filed this proceeding for relief under Chapter 7, Title 11 U.S.C., on or about April 3, 2007.
DEBT AND SECURITY
3. On November 6, 2005, Kelly S. King and Brenda M. King, executed and delivered a promissory note in writing, in the sum of $888,000.00, together with interest at the rate of 7.625% per annum.
4. On November 6, 2005, Kelly S. King and Brenda M. King, to secure the payment of such note, executed and delivered a certain deed of trust in writing, conveying the property commonly known as 14851 Highway 6, Gretna, Nebraska. Such deed of trust was recorded in the office of the Register of Deeds of Sarpy County, Nebraska. On or after the date of the recording of such deed of trust, debtor became the record owner of such real estate.
5. NCC is the owner and record holder of the note and deed of trust.
6. The debtor made some payments on the obligation described above but has failed, refused and neglected to make all payments due and owing to NCC and is delinquent for the payments due from and after October 1, 2006.
7. As a result thereof, there is presently due and owing on the note and deed of trust the principal amount of $888,000.00, plus interest at the rate of 7.625% per annum and other related charges, for BRB an approximate payoff amount of $941,000.00 as of April 11, 2007.
BASIS FOR RELIEF FROM STAY
8. Debtor does not have any equity in and to said real property.
9. Debtor has not afforded adequate protection to the applicant to protect its interest in said
WHEREFORE, NCC prays that upon hearing of this matter, it be awarded relief from the automatic stay of 11 U.S.C. Section 362(a), that the 10 day stay pursuant to Rule 4001(a)(3) of the Federal Rules of Bankruptcy Procedure be waived to allow it to immediately proceed with foreclosure proceedings in Sarpy County, Nebraska, that it be allowed to provide debtor with information regarding a potential Forbearance Agreement, Loan Modification, Refinance Agreement or other loss mitigation agreements, and may enter into such agreements with the debtor without notifying the Trustee and without further Order of the Court and that its attorney fees and costs in connection with this Motion be approved by the Court.
Las Vegas, Nevada