Opinion ID: 199159
Heading Depth: 2
Heading Rank: 1

Heading: The Wellfleet property

Text: 3 On October 5, 1982, Golenbock and a friend named Ellen Ratner purchased a parcel of land on Bond Street in South Wellfleet, Massachusetts (the Wellfleet property) for $18,000. 2 To build a house on the property, they borrowed $56,700 from the Cape Cod Five Cent Savings Bank (Cape Cod Five), secured by a mortgage on the property. In 1986, Ratner sold her interest in the Wellfleet property to Golenbock and Stein for $34,050. The Cape Cod Five was notified of the transfer, and released Ratner from the mortgage. Shortly thereafter, Golenbock and Stein obtained an additional $50,000 line of credit from the Cape Cod Five, secured by a second mortgage on the Wellfleet property. Golenbock and Stein used the newly-built house on the Wellfleet property as a vacation home, and sometimes rented it out. 4