May 2013 Post Archive

May 10, 2013

Video Blog: Can I keep my house in a Chapter 7?

This is a video blog answering the question: Can I keep my home in a Chapter 7 Bankruptcy? 

Generally the answer is yes if there is no equity in your home and you are current on the mortgage.  However, if you are not current on the mortgage, there have been some Chapter 7 trustees who will try to short sell your house if there is no evidence that a loan modification is being sought.

If there is equity in your home beyond the homestead exemption, the Chapter 7 trustee may seek to sell your house to pay your creditors.