If I’m Current on My Mortgage, Can I Keep My House through Chapter 7 Bankruptcy?

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Can I Keep My House During Chapter 7 | Loveland, Colorado Bankruptcy Attorney | The Law Office of Chris D. HeftyAs a Loveland, Colorado bankruptcy attorney, I field many questions from clients who are unsure about the bankruptcy process. With each question, I carefully take the time to explain the options in relation to their circumstances, and help them to make the choice that is right for their financial situation.

A frequent question I receive is in regards to home ownership: “If I’m current on my mortgage, can I keep my home in Chapter 7 bankruptcy?”

The answer in most circumstances is yes—if all of your equity in the home is exempt. The next question, of course, is, “What is exempt equity?” [Read more…]

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