OF OPINION ON PURCHASE MONEY LIEN JOHN C. AKARD, Bankruptcy Judge. Issue Does refinancing a purchase money loan by issuing a new loan destroy the purchase money nature of the original security interest for purposes of Bankruptcy Code § 522(f)? Facts First State Bank, Morton (Bank), advanced cash to Mrs. Gillie to purchase household furniture. On June 19, 1985, Mrs. Gillie signed a note in the amount of $6,370.92 payable to the Bank in 36 monthly installments of $176.97 each. The note represented $4,600.00 paid to Mrs. Gillie, credit life and credit health and accident premium e Billings), 838 F.2d 405 (10th Cir.1988) (<HOLDING>); In re Hansen, 85 B.R. 821 (N.D.Iowa 1988)
holding that where a security agreement contained collateral other than collateral for which creditor advanced funds to debtor since it secured antecedent debts as well as new debt and the agreement provided that the security interest secured payment and performance of the debtors present and future debts to the creditor the creditor did not have a pmsi and the debtors could avoid the creditors lien on collateral claimed as exempt holding that in georgia pursuant to  9107 of the ucc refinancing of a promissory note transforms the obligation thereby destroying purchase money nature of the security interest therefore the creditor lost its purchase money security interest pmsi in a television set when the loans were consolidated and lien was avoidable id 89 br 264 18 bcd 58 holding that a creditors refinancing by renewal does not destroy a pmsi to the extent that the balance remaining on the original loan is transferred to the renewal note holding that under georgia law a creditors refinancing of a promissory note destroyed the purchase money nature of the creditors security interest in a wall unit which served as collateral holding that under colorado law refinancing of a purchase money loan whereby an old note and security agreement were canceled and replaced by a new note and security agreement did not automatically extinguish the creditors pmsi in the debtors furniture the parties did not intend the new note to extinguish the original debt and security interest in that identical collateral remained almost no new money was advanced and the document specifically stated an intent to continue the pmsi