Whether you can keep your home depends on a number of different factors, including which bankruptcy chapter you file, the value of your home, the amount of equity in it, the value of your other assets, what exemptions are available, and more.
There are two main issues with keeping your home in any bankruptcy case. The first is obvious. You must be current with and stay current with your mortgage payments and any other obligations secured against your property (in a Chapter 13 you can catch up on the past due amounts over time)
The second has to do with the value of your property, amount of equity in it, and what exemptions you have available under applicable law to protect that equity.
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 have a consultation with a bankruptcy attorney in your area for more specifics on your situation.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/
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