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
Bankruptcy law sets a maximum dollar amount of protection for your recently-bought home, but this really applies to only a few states.
Every 3 years many of the dollar amounts in the bankruptcy statutes are adjusted for inflation. Here’s a summary of the important changes.
Chapter 13 gives you up to 5 years to catch up on your past-due mortgage. How does this actually work?