When you file bankruptcy what happens if I owe money on my home, do I lose my home and how do I go about filing for bankruptcy?

You should be able to keep your home if: 1. You do not have an excess amount of equity in your home and, 2. You are current on the payments, and 3. You continue to make the payments. The answer depends on the above 3 items but of course, it's a little more complicated than that. Call a bankruptcy attorney to find out more information as every case is a little different.

You can usually keep your home in bankruptcy. If you are not behind on payment and have the ability to continue to make payments, then you can file a Chapter 7 that will make most of your debts noncollectable. If you are behind in your payments, then a Chapter 13 might be better so you can make up those missed payments and keep your home. You should contact an attorney to discuss your options and find the best choice for you.

You can exempt a certain portion of the equity in your home; right now, many folks actually owe more than its worth, so there is not an exemption problem; if you are behind in mortgage payments, then a Chapter 13 might be better for you so you can include the mortgage arrearage in the plan; if you're current on your mortgage, then you might better benefit from a Chapter 7 since BKY is such a technical and tricky area of the law, you would be best served by consulting a local bankruptcy attorney in your area.

You can keep your home as long you are able to continue to make your payments on it. I suggest you consult with a bankruptcy attorney to discuss the details of your specific situation.

You can keep your home, but only if you can pay the money you owe against it. If you have income that will enable you to pay your regular payments and something toward any arrearage, you can probably propose a workable plan in a Chapter 13 case.

This stuff is complicated. Please schedule a consultation with a lawyer. To answer your question, you can keep your home if you can make your mortgage payment. If you are behind on your mortgage you will have to get caught up. Ch 13 is a good way to deal with arrears.

Whether you can keep your home or not in filing bankruptcy depends on the equity that you have in the home and the exemptions available to you when and where you file bankruptcy.

As with any debt financing the purchase of property, you have to make a choice when you file bankruptcy - pay and keep the property, or walk away and owe nothing. The decision is complicated by the fact that the process to foreclose on property is set out by state law and can be quite lengthy. I believe that the best way to go about filing bankruptcy is to consult with a local bankruptcy attorney who will work with you to make sure your concerns are addressed.

You could lose your home to the Trustee if there is equity that can not be protected. Normally, as long as you can still pay your monthly mortgage, you can keep your house. Your first step in filing should be to make an appointment with a bankruptcy attorney.

The short answer is that most people who own a house, and are behind on their mortgage payments, and file a Chapter 7 bankruptcy, end up keeping their house.? They have to keep up with the mortgage payments afterward, or the lender will foreclose and take the property away.? But usually they get the debt discharged by the Bankruptcy Court, so the lender cannot get any money out of the debtor, just the house. Obviously that's a broad generalization.? You should make an appointment to speak with a local bankruptcy attorney often they will give you a 30-minute consultation for free and take with you your deed, your vehicle registrations, your last two years' tax returns, last two or three pay stubs, most recent statements / invoices / demand letters from everyone you owe money to, a list of your assets, and a list of your ordinary monthly expenses.? The attorney should be able to size up your situation and give you an answer whether bankruptcy will help you, what to expect, and how much it will cost.

Depending on the legal provisions in your state and the type of bankruptcy you file, you can prevent the loss of your home if it is shown that this is your only shelter. You should seek the advise of an experienced attorney to ensure that your rights are protected.

You will not lose your home. However, you will have to continue to make timely payments on it to keep it through the bankruptcy process and after bankruptcy. Sounds as if you need to hire a good bankruptcy atty.

Not normally. It depends on where you live and the exemptions of that state. If you live in Arizona consider the following. Bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy. Please take time to educate yourself about bankruptcy and to determine which attorney is the best to assist you in the process. Don't assume the attorney is being completely honest about their experience and capabilities. Check them out. Avoid the attorneys who advertise on TV or profess a 100% success rate in their Internet ads. It costs hundreds or thousands of dollars for these ads and someone has to pay for them - the clients. These attorneys mass produce the work and do not offer the client the hands on assistance that is necessary in a well-planned bankruptcy. Normally these firms assign all or most of the work to paralegals and the client rarely talks to an attorney. When interviewing the attorney ask them how long they have practiced bankruptcy law. Ask what percentage of their practice is focused on consumer work. Ask whether they are experienced in both chapter 7 and chapter 13 cases. Ask the attorney for references. Ask about their policy of returning phone calls. They should be committed to answering specific questions about your situation and help you understand your options. If, after talking with them you are still confused about the issues you raised, find another attorney. An attorney should be your guide through this process. They should educate you, be there to assist you in how to avoid pitfalls and help you plan for your future after bankruptcy. There are hundreds of "bankruptcy" attorneys in Arizona. Of those just a few will fit the criteria set forth above. Again, bankruptcy is a very complicated process and you want to use an attorney who will be there when you need them.

You have several options when you have a home and file bankruptcy. It depends if you are current, a little bit behind in payments, or many many months of non-paying. Bankruptcy is really a two-step process. First you retain a lawyer or law firm for an initial consultation to identify your eligibility for bankruptcy and other issues that need to be addressed BEFORE the case is filed. Then there is a period of time when you pay your attorney fees, gather documents that the court requires, and Resolve the issues that can affect your bankruptcy filing. After fees are paid, documents are collected, and issues are resolved, THEN your case is filed.

You will eventually lose the home if you do not make the mortgage payments. Filing Bankruptcy is not something that can just be done quickly. It takes a long time to get all of the necessary documents ready to be filed.

Under certain circumstances you may keep your home. It is best to hire an attorney.