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Can I Keep My Home If I File Bankruptcy?

Yes, state and federal exemptions can be used to protect the equity in your home during bankruptcy up to a certain dollar amount. If there is no equity, you do not really need to worry about the exemption amounts. Either way, of course, in order to keep your home you will still typically need to make the payments in accordance with the terms of your mortgage.

If you are behind on mortgage payments, a chapter 13 bankruptcy may allow you to catch up on the payments over a period of time. You may also be able to "lien-strip" second mortgages or other junior liens in certain circumstances. An experienced bankruptcy attorney can tell you more about those types of issues.

To discuss your financial situation and options in more detail, please contact us or use ouronline scheduler for a free consultation. You may also submit your information for review by a Minnesota bankruptcy attorney.

For information about how keeping a vehicle in bankruptcy, click the 'Next' button.


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