Carl Edwards, a racecar driver, owns a 2012 Ford Fusion in which Boone County National Bank holds a properly perfected security interest to secure a loan it made to Edwards. After a series of bad breaks, Edwards decides to file for Chapter 13 bankruptcy protection. Under which one of the following circumstances would the bankruptcy court be MOST likely to lift the automatic stay and allow Boone County National Bank to foreclose on the car?

1. The bank is “oversecured” on its loan, and the car is not the one he races in.

2. The bank is “undersecured” on its loan, and the car is not the one he races in.

3. The bank is “undersecured” on its loan, and the car is his actual racecar.

4. The bank is "oversecured" on its loan, and the car is his actual racecar.