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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?
Wiki User
∙ 18y ago
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.
Wiki User
∙ 18y ago
Wiki User
∙ 7y agoSeek 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.
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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 was Arizona Federal Credit Union created?
Arizona Federal Credit Union was created in 1936.
What us states are going bankrupt?
Executive Summary - There are now 10 states in the USA that are insolvent and expected to file for bankruptcy in the fairly immediate future (2010).Which 10 States - California, Arizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island and Wisconsin. These 10 states account for over one third of the USA population and this is significant. Think of it is more then 33% of the USA going bankrupt.Other States on the Endangered Species List - Colorado, Georgia, Kentucky, New York and Hawaii. These states are in bad shape and can easily get pushed over into bankruptcy.
Where is the Amazon warehouse located?
Arizona
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The Arizona Constitution gives a 50% tax break automatically to all corporations with 250 or more employees.
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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.
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this is the stuipedest website in the freakin world
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Absolutely!!! That is the only type of loan that it applies too and it must be primary residence.
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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.
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.
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.
