Will I loose my home if I file bankruptcy

Your questions are way beyond the scope of a free online service like this.  You need to have a consultation with a bankruptcy attorney in your area who can get all the relevant information and advice you on your options and answer your questions. That having been said, the answer to your first question is:  If there's no equity in the property, then a Trustee in bankruptcy isn't going to sell it.  If you don't stay current on the mortgage payments, the lender can foreclose.  With the numbers you gave, you could be able to eliminate the 2nd and 3rd mortgage liens in a Chapter 13 or Chapter 11 case. As to your second question, without seeing the Trust document, and knowing the value of the trust res, I couldn't even begin to answer that question. As to the mortgage properties, you've provided no information on their values, amounts owed against them, which chapter you would be filing under, etc., so there's no way to answer that question. How much equity you can protect depends on the exemptions laws of whatever state is applicable in your case, which essentially depends on where you resided for the 2+ years prior to filing your case. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.