A common question asked among those filing Chapter 7, as well as Chapter 13 is the following…

Can I Keep My House if I File Bankruptcy?

The first thing that you will need to look at is the equity in the home.  If there is no equity in the home, you will more than likely be able to keep the house.  After you declare bankruptcy, you will be responsible for all bills associated with the home such as liens, deeds, and more.   As long as you continue to make payments, you will be able to keep it.

While the answer can be tricky with this question, you may lose your home to the bank if you fail to make payments.  If you show up at the courthouse declaring bankruptcy and the judge realizes you’re not making payments, they probably won’t side with you.  If you’re making an attempt to make the payments, they may be on your side.

Every state varies

While I’m no bankruptcy attorney, I would recommend that you consult with one, because they are going to be able to tell you the exact rules in regards to your bankruptcy.

As long as the equity in your home is exempt, you’re more than likely going to be able to keep your home.  This is if you’re up to date on your payments and not behind at all.

If you’re up to date on your payments, all signs will more than likely point to yes, but that doesn’t mean its true 99% of the time.  Again, consult with a bankruptcy attorney in your area to ensure that you’re on the right path and to also get some legal advice that works for your situation.