Can I assume someone's mortgage if they have filled bankruptcy? 8 Answers as of November 18, 2016

The home I'm asking about is in another state.

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Garner Law Office
Garner Law Office | Daniel Garner
It is unlikely that you could assume any mortgage, regardless of the circumstances, but you would have to contact the mortgage holder to be sure. The county recorder's office should have a record of the mortgage.
Answer Applies to: Oregon
Replied: 11/18/2016
A Fresh Start
A Fresh Start | Dorothy G Bunce
Assuming a mortgage will have nothing to do with the seller?s prior bankruptcy. However, whether the seller is eligible to transfer the title to the property to you is a much more crucial issue that you will need to investigate.
Answer Applies to: Nevada
Replied: 11/18/2016
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
Meet with an experienced BK & RE lawyer. Pay them for a couple hours of their time to review the Deed of Trust and the BK file. The answer to your questions depends on a lot of things. Now is not the time to skimp. Good luck!
Answer Applies to: Colorado
Replied: 11/18/2016
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
First, check the loan docs. Some loans are not transferable. Second, you cannot defeat the interest of the bankruptcy trustee by this action. You better make sure the trustee has "abandoned" the property. On the court docket look for a "no asset report" or similar words to that effect. You can check by getting a PACER account. Google it.
Answer Applies to: California
Replied: 11/18/2016
Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
That will depend on the precise language of the mortgage and mortgage note. Some of them preclude assumption-but in general they can permit an assumption if they specifically agree. So you must check those documents with care. Good Luck.
Answer Applies to: Wisconsin
Replied: 11/18/2016
    OlsenDaines | Rex Daines
    It is completely up to the mortgage lender. It is very unlikely that a mortgage lender will allow you to assume a mortgage.
    Answer Applies to: Oregon
    Replied: 11/18/2016
    Ronald K. Nims LLC | Ronald K. Nims
    Very few mortgages today can be assumed. Banks haven't written assumable mortgages since the 1960s. If the mortgage is assumable, you could assume it, regardless if the original debtor filed bankruptcy.
    Answer Applies to: Ohio
    Replied: 11/18/2016
    Mauritz Van Niekerk, Attorneys at Law
    Mauritz Van Niekerk, Attorneys at Law | Christiaan van Niekerk
    That will have an impact on the bankruptcy especially if they are on a chapter 13 and are paying arrears in the plan.
    Answer Applies to: New York
    Replied: 11/16/2016
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