If I claim bankruptcy, will I lose my house?

Whether you lose your house, or any assets, in a bankruptcy case depends on a number of factors. Among these factors are: 1. Which chapter you file.  In Chapter 13 you do not lose any assets, but you must pay out at least as much as your creditors would receive in a Chapter 7 case. 2.  The value of your house and amount of liens against it. 3.  What exemptions you have available to protect your assets under applicable law. Exemptions are "protections" for value you have in certain assets such that they are "exempt" from collections.  Every state has different exemptions amounts available. Exemption laws are based on the state where you resided for the 2 years prior to filing your bankruptcy case or, if you lived in more than 1 state during that period, in the state where you resided for the greater part of the 180 days prior to that 2 year period. You need to consult with an experienced bankruptcy attorney in your area for more specifics. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter:  @bklawr