Can I Keep My House if I go Bankrupt?
Bankruptcy is never an enjoyable process. And in some cases, yes, you will not be able to stay in your house. But not in all of them, say experts. Sometimes, filing bankruptcy could be just the ticket for keeping your home.
Exempt vs. Non-Exempt Assets
If you are behind on the mortgage payments, or if you own more equity in the house than your state exempts, Chapter 7 might not allow you to keep the house.
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Can I Keep My House if I go Bankrupt?
Bankruptcy is never an enjoyable process. And in some cases, yes, you will not be able to stay in your house. But not in all of them, say experts. Sometimes, filing bankruptcy could be just the ticket for keeping your home.
Exempt vs. Non-Exempt Assets
If you are behind on the mortgage payments, or if you own more equity in the house than your state exempts, Chapter 7 might not allow you to keep the house.
Comments are closed