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General Topics
Bankruptcy is Alive and Well. DON'T BELIEVE THE HYPE!
Chapter 7, specifically
Chapter 13, specifically
What is bankruptcy
Are there alternatives
Am I eligible
Can I keep property
How to decide
Does my spouse have to file
How long does it take
What will it cost
What will bankruptcy stop
Should I tell my creditors
What about my home
Should I load up on debt
Can I include utilities
Include all debts & property
What happens at the hearing
I have a business
Secured creditors
Are bankruptcies reported
Are employers notified
Can I cancel my bankruptcy
Types of bankruptcies
Do I attend a hearing
What should I do
What will it cost?


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Blind Justice / no favoritism


What will happen to my house?

A.  If the amount of equity (the amount by which the market value of your house exceeds the amount still owing on the mortgage) is less than $5,000.00 ($10,000.00 for a couple) and if your house payments are current and kept current, you will not lose your house even after filing a Chapter 7 bankruptcy. 

If you qualify to file a Chapter 13 bankruptcy you will keep your house even if the equity exceeds the exemption. If you are unsure of the present value of your house, you should consult with a real estate agent or have your house appraised by an SRA (Society of Real Estate Appraisers) appraiser.   Then call your mortgage company (and second mortgage, if there is one) to find out your present mortgage balance.