IN THE UNITED STATES BANKRUPTCY COURT  FOR THE NORTHERN DISTRICT OF IOWA   IN RE:  )        )  Chapter 7  DEAN E. FREED  )        )  Bankruptcy No. 18-01211    Debtor.  )      )      RULING ON OBJECTION TO HOMESTEAD EXEMPTION    This matter came on for telephonic hearing on Sanborn Savings Bank’s  Objections to Exemptions. Donald Molstad appeared for Debtor, Dean Freed  (“Debtor”). Daniel Dekoter and Nathan Rockman appeared for Creditor, Sanborn  Savings Bank (“Bank”). The Court took the matter under advisement. This is a  core proceeding under 28 U.S.C. § 157(b)(2)(B).  STATEMENT OF THE CASE    The Bank filed objections to Debtor’s homestead exemption claim. The  parties filed stipulated facts relating to the objections, to the exemptions, a  stipulation regarding sale of the homestead, and an agreement to allow the sale  proceeds to be held in escrow. The homestead was sold, expenses were paid, and  the proceeds of $248,117.65 remain in escrow. The sole issue remaining is  whether the future advance clause of the mortgage applies and fully secures the  Bank to the net sale proceeds. Debtor claims he has an exemption in half of this  amount while his ex-wife, Connie, claims the other half. Connie also disputes the  Case 18-01211 Doc 127 Filed 04/24/20 Entered 04/24/20 14:44:02 Desc Main  Document Page 1 of 13

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