Got a bit deeper into this issue today. Looks like the cold water valve thread broke off in the socket...therefore the handle and upper part of the valve steam just rotates round and round and leaks.
I may be able to get the broken piece out and just replace the valve itself. But, if I have to replace the whole valve assembly, believe I will have to go into the bedroom, remove a shirt closet, open up the wall with a flush mounted access panel, make the repair, then put the shirt closet back on the wall. The access panel will like be half in the closet and half out...partly out the bottom and partly out the front of the closet. What a pain !!!