answersLogoWhite

0

You can keep your home in a chapter 7, if it is determined that you do not have an equity position in your home that succeeds your state's statutory exemptions, as long as you continue to be current on your monthly mortgage payments.

User Avatar

Wiki User

14y ago

What else can I help you with?

Related Questions

Can you file for bankruptcy without a home?

Absolutely. Happens all the time.


Can you go bankrupt on your 2nd mortgage without risking losing your home?

Nope.


What happens to your home when you file for Chapter 13 bankruptcy?

When you file for Chapter 13 bankruptcy, your home is generally protected from foreclosure, as the bankruptcy process allows you to create a repayment plan to catch up on any missed mortgage payments over three to five years. You can keep your home as long as you adhere to the repayment plan and continue making your regular mortgage payments. However, if you fail to comply with the plan or miss payments, you risk losing your home. It's essential to consult with a bankruptcy attorney to understand your specific situation and options.


Is there a time limit for banks to foreclose on your home after filing bankruptcy been discharged?

The bankruptcy law does not set a time limit for banks to foreclose on your home after filing bankruptcy. In fact, banks are prevented from foreclosing or continuing a foreclosure already in process upon the filing of a bankruptcy without first obtaining an order from the bankruptcy court allowing it to foreclose or continue a foreclosure already commenced.


What is a reaffirmed mortgage?

A reaffirmed mortgage is one that was included in a bankruptcy but the homeowners get to keep the home instead of losing it back to the bank. The payments and length of loan may be adjusted.


What are the Florida limits on home exemption in bankruptcy?

I believe you home is safe as long as it is your homestead in a bankruptcy. You should consult a bankruptcy attorney to be safe.


What happen if your bankruptcy has closed and your home did not get affirmed the bank said its the attorney fault and the attorney said its the banks fault?

If your bankruptcy has closed and your home was not affirmed, it typically means that the bankruptcy court did not approve the reaffirmation of your mortgage, leaving you at risk of losing the home. You may need to address this issue with both your attorney and the bank to clarify responsibilities and explore your options, such as negotiating with the bank or seeking legal remedies. It's also important to consult with a bankruptcy attorney who can help you understand your rights and potential next steps.


If you purchase a new home prior to bankruptcy is your new home part of the bankruptcy?

Yes, of course.


Can you include your home in a bankruptcy after the bankruptcy has already been discharged?

No.


If your home has equity and you file bankruptcy on the credit cards do they go after your home?

Generally you have to list your home as an asset. But there are different kinds of bankruptcy, and if things work out, your home ownership could be protected. See a bankruptcy lawyer!!


What is mailing address to report bankruptcy to Home Depot?

mailing address to report bankruptcy to Home Depot


Can you sell a home that is in bankruptcy?

No.