Your Home in Chapter 7 Bankruptcy
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What will happen to your home and mortgage in Chapter 7 bankruptcy? Can Chapter 7 help you prevent or avoid foreclosure?
In Chapter 7 bankruptcy, the homestead exemption protects many people's homes. But if you have lots of equity in your home, you might lose it. And if you are behind in your mortgage, Chapter 7 does not provide a way to catch up. Find out more below.
For articles on real estate other than your home, see Rental and Investment Property in Bankruptcy.
Articles on Your Home in Chapter 7
Here's the lowdown on how your mortgage is treated in both Chapter 7 and Chapter 13 bankruptcy.
Learn how to value your home when filing for bankruptcy.
If you live in Alabama, Florida, or Georgia, you might be able to get rid of junior mortgages in Chapter 7 bankruptcy.
The Homestead Exemption
Learn about the homestead exemption and find your state's homestead exemption.
Click on this link to go to our Bankruptcy in Your State page. Then click on your state link to find state-specific bankruptcy information, including state exemptions.
If you file for Chapter 7 bankruptcy, whether you can keep your home depends, in large part, on your state's homestead exemption. Here's how the homestead exemption works.
Go through the steps to see if you can save your home from foreclosure in Chapter 7 bankruptcy.
Learn more about foreclosure, nonbankruptcy foreclosure defenses, and how bankruptcy can help.
Your Home in Chapter 13 Bankruptcy
Sometimes Chapter 13 bankruptcy is the better option if you want to save your home.
Catching up on arrears, avoiding foreclosure, getting rid of second mortgages, and more.
Common Questions About Homes, Mortgages, and Foreclosures in Bankruptcy
Nolo Books on Bankruptcy, Debt, and Foreclosure
The Foreclosure Survival Guide: Keep Your House or Walk Away With Money in Your Pocket
If you're having trouble making your mortgage payments or are already in jeopardy of foreclosure, this book gives you the practical information you need, step by step.
If you're having trouble making your mortgage payments or are already in jeopardy of foreclosure, this book gives you the practical information you need, step by step.
How to File for Chapter 7 Bankruptcy
The reliable, up-to-date information in this best-selling book will help you successfully complete your bankruptcy claim without breaking the bank.
The reliable, up-to-date information in this best-selling book will help you successfully complete your bankruptcy claim without breaking the bank.
Chapter 13 Bankruptcy: Keep Your Property & Repay Debts Over Time
This comprehensive guide explains the Chapter 13 process, from start to finish.
This comprehensive guide explains the Chapter 13 process, from start to finish.
Solve Your Money Troubles: Debt, Credit & Bankruptcy
Get out of debt and solve your money troubles with this complete guide to repairing your credit and regaining financial freedom.
Get out of debt and solve your money troubles with this complete guide to repairing your credit and regaining financial freedom.