Your Home in Chapter 7 Bankruptcy

What Happens to Mortgages in Bankruptcy

A major concern for most homeowners who are contemplating bankruptcy is how bankruptcy will affect their mortgage.   The good news is that your mortgage company cannot raise your interest rate or change other terms of your loan to punish you for filing bankruptcy.   But there are several other things you should know about how fi

How to Value Your Home in Bankruptcy

Properly valuing your home in both Chapter 7 and Chapter 13 bankruptcy is important. In some situations, your home's value will determine whether you can keep it, or whether you can strip junior mortgages off. Here's how to value real estate in bankruptcy.

Can I Remove Junior Liens and Mortgages in Chapter 7 Bankruptcy?

In most bankruptcy districts, you cannot get rid of junior liens and mortgages (such as second and third mortgages, HELOCs, and home equity loans) from your home in Chapter 7 bankruptcy. But due to a recent 11th Circuit Court of Appeals case, you might be able to remove such liens and mortgages in Chapter

Can I Keep My Home in Bankruptcy if I Am Behind on HOA Dues?

In most cases, if you are behind on your homeowners’ association (HOA) dues, the HOA can place a lien and foreclose on your property. Whether filing for bankruptcy can help you keep your home will typically depend on whether you file for Chapter 7 or Chapter 13 bankruptcy. What Is an HOA Lien? In

Can I Keep My Vacation Home in Chapter 7 Bankruptcy?

In most cases, you won’t be able to keep your vacation or other second home if you file for Chapter 7 bankruptcy. However there are some exceptions to this general rule. For instance, if the state you live in has a wild card exemption, you may be able to save your vacation home if you have a low amount of equity in your property.

Chapter 7 Homestead Exemption

If you file for Chapter 7 bankruptcy, whether you can keep your home depends, in large part, on your state's homestead exemption.

What happens with an upside-down mortgage in bankruptcy?

We are considering Chapter 7 bankruptcy due to a lot of credit card debt, but we also own a home which we are upside-down on. What happens to the house and the mortgage debt?

How can I remove my second mortgage through bankruptcy?

Answer:  You might be able to remove a second mortgage from your home in Chapter 13 bankruptcy if your equity does not cover the second mortgage. This is called "lien stripping."

What Happens in Bankruptcy If I Am on the Deed to Someone Else's Home?

If you are on title to a house owned by another person and you file for bankruptcy, what happens to the home and how it will affect your bankruptcy depends on whether you have bare legal title (no real ownership of the property) or both an equitable and legal interest in the property. If you do have an equitable interest in the property, then the home becomes part of your bankruptcy estate.

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.

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.

Chapter 13 Bankruptcy: Keep Your Property & Repay Debts Over Time

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.