An underappreciated benefit of filing bankruptcy now is that doing so will protect the equity that your home will build in the future. Our last blog post discussed how to protect the equity currently in your home through the homestead exemption. We discussed property exemptions in bankruptcy in general, and federal and state homestead exemptions in particular. Overall we showed how … Read More
The homestead exemption protects the equity you have in your home. If you don’t have too much equity, consider Chapter 7 bankruptcy. Our last two blog posts outlined 15 separate ways that bankruptcy can protect your home now and/or in the future. We’ll be explaining each one of these ways in 15 separate blog posts. Here is the first … Read More
As you decide whether to use the powerful tools of Chapter 13 to hold onto your home, it helps to know that you can later change your mind.
If your home is exposed to your creditors and to the Chapter 7 trustee because it has too much equity, Chapter 13 can protect that equity.
If your home is at risk because you have more equity than the amount of the homestead exemption, Chapter 7 might still save your home.
If you are behind on your mortgage and want to sell, you may be able to delay the home sale for years and pay the arrearage out of the sale.
These 10 tools, especially used in combination, can defeat your mortgage debt and other home-based challenges.
Bankruptcy law sets a maximum dollar amount of protection for your recently-bought home, but this really applies to only a few states.
Chapter 13 handles a tax lien on a home especially well when the home has enough equity to cover some but not all of the tax lien amount.
Have the flexibility to sell your home when you want, giving time for it to add equity, while keeping creditors away from that equity.
Most homeowners contemplating bankruptcy have their home equity protected by their homestead exemption. If not, consider Chapter 13.