Best Answer

You have to look at the bankruptcy file and also review the Chapter 13 plan to determine the status of the other two mortgages. A Chapter 13 can sometimes be used to strip liens from property if the liens exceed the value of the property. Until you determine otherwise, it would be best to assume that you will be subject to the other two mortgages as well.

User Avatar

Wiki User

โˆ™ 2005-09-06 02:43:21
This answer is:
User Avatar

More Answers

User Avatar

Wiki User

โˆ™ 2016-07-28 04:36:42

Seek the help of a real estate lawyer to fully understand the contract. You want free and clear ownership when you purchase with one loan. Usually, your lender will not approve a loan for property that is subject to liens or judgements until they are paid.

User Avatar

Add your answer:

Earn +5 pts
Q: If you want to buy a house in Arizona that has 3 mortgages on it and the previous owners declared chapter 13 bankruptcy on all three do you assume all 3 mortgages if you assume the senior loan?
Write your answer...

Related Questions

What are the Arizona bankruptcy laws?

The Arizona bankruptcy laws are too long and complex to include in this answer. One can find the complete information at the website for the US Courts Arizona District or at the site called Arizona Bankruptcy Law.

WHAT ARE THE Arizona bankruptcy exemptions?

There is a perfectly good laundry list of bankruptcy exemptions in Arizona, and you can find them easily. Just go to the U.S. Bankruptcy Court website, and look at the FAQs (the frequently asked questions). Those come in three clumps, and the second one is "debtor questions"; that's what you're looking for. Go to question 15, and there's a nice, official list of Arizona Bankruptcy Exemptions. Enjoy! And if you want to see a discussion of Arizona bankruptcy exemptions, and most topics associated with Chapter 7 bankruptcy cases in Arizona, feel free to go to my bankruptcy blog. I'm Joseph C. McDaniel, and I'm an Arizona bankruptcy lawyer.

Can you get a repossessed car back by filing chapter 7 or 13 bankruptcy in Arizona?

This would be best answered by a good bankruptcy attorney who knows Arizona law. I believe no matter what you do bankruptcy or not, they will get the car, it does not wipe your credit clean.

Can you work full time after bankruptcy in US Arizona?

Of course. It is illegal to discriminate against persons who have filed bankruptcy.

What day was Arizona declared a state?

this is the stuipedest website in the freakin world

What Arizona landmark was declared a national monument by Theodore Roosevelt?

Grand Canyon

In Arizona can a judgment from a previous divorce be collected from the spouse of a new marriage?


What are John McCain's previous experiences?

he is a long time serving sentor from Arizona

Arizona is a non-deficiency state does this apply to mortgages?

Absolutely!!! That is the only type of loan that it applies too and it must be primary residence.

Can a person in who files bankruptcy get out of paying a court awarded judgment in Arizona?

Yes. Not if the judgment was for a case involving fraud. And the state doesn't make any difference, unless there is a state bankruptcy procedure that you are using.

Where can one find information about the Bankruptcy Court in the district of Arizona?

One can find information about Bankruptcy Court on the website of the Sheriff. A dedicated agent on the official website would be happy to answer further questions in the future.

History of how Arizona became a state?

Arizona was declared part of the Territory of New Mexico until southern New Mexico seceded from the Union as the Confederate Territory of Arizona on March 16, 1861. It was then was recognized as a Confederate Territory by presidential proclamation on February 12, 1862. The Arizona Territory, consisting of the western half of New Mexico Territory was declared in Washington, D.C. on February 24, 1863. Arizona became a U.S. state on February 14, 1912.

In Arizona how can you determine whether your mortgage loan is a non recourse loan or a recourse loan?

Arizona has anti-deficiency laws - specifically, A.R.S. §§ 33-729(A) and 33-814(G) - that prohibit purchase-money lenders from collecting on a deficiency. However, the bad news is that the anti-deficiency protection often does not apply to second mortgages, equity lines of credit, some refinanced loans, etc. In those exceptions, generally the only relief is achieved through bankruptcy.

How long does person in Arizona have to be missing to be declared dead?

A person can survive in the dessert for 2 and a half weeks. Because people can get water from cactuses and the food part is usually up for a challenge. Since its so hot there its usually about 2 weeks for a person to be declared dead in Arizona.

Did Paddock Pools Construction Company of Arizona file for bankruptcy Chapter 11 in 2007 or 2008?

neither.... But they probably will in mid 2009

102 years ago today theodore rosevelt declared what arizona landmark a national monument?

Grand Canyon

102 years ago today Theodore Roosevelt declared what Arizona landmark a national monument?

The Grand Canyon

What were the previous capitals of Arizona?

Fort Whipple, Prescott, Tucson and back to Prescott and finally to Phoenix in 1899.

How many stars were on the US flag in 1913?

48, New Mexico and Arizona joined the previous year.

Can you file for a voluntary dismissal of a chapter 7 bankruptcy in Arizona?

You can dismiss a bankruptcy anywhere (at least in the U.S.) Check with an attorney to see how this will effect you though. You will still have a bankruptcy on your record and will still owe everything. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.

What companies have filed for bankruptcy in Arizona?

Bankruptcy is a FEDERAL process. What determines which Federal district a company files in depends on several things. Most often, it is the Federal Distrct Court for Bankruptcy where there state of incorporation is. And that really has nothing to do with hat you see in operations and such. Commonly it is Delaware. Changing more and more to Nevada, Vermont and some others.

When a family member is missing in Arizona how long does their disappearance allow before you can ask the courts to have them declared deceased?

Is it less then 2 years

Who was the president when AZ was declared as a state?

Arizona was admitted into the Union on February 14, 1912 becoming the 48th state to join the Union. William Howard Taft was President of the United States when Arizona was admitted into the union.

When was the London bridge that's in London constructed?

1973. The previous bridge was re-erected in Lake Havasu City, Arizona.

Can cps in Colorado use information from a previous cps case in Arizona?

They can and do use any and all information that they can get "in the interest of the child."