{"id":190203,"date":"2024-03-26T10:59:36","date_gmt":"2024-03-26T10:59:36","guid":{"rendered":"https:\/\/namso-gen.co\/blog\/?p=190203"},"modified":"2024-03-26T10:59:36","modified_gmt":"2024-03-26T10:59:36","slug":"can-you-claim-bankruptcy-and-still-keep-your-house","status":"publish","type":"post","link":"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/","title":{"rendered":"Can you claim bankruptcy and still keep your house?"},"content":{"rendered":"<p>**Can you claim bankruptcy and still keep your house?**<\/p>\n<p>Financial difficulties can be overwhelming, often leading individuals or families to consider bankruptcy as a way to relieve their debt burdens. One of the most critical concerns for homeowners is whether they can claim bankruptcy while still keeping their house. The answer to this question largely depends on several factors, such as the type of bankruptcy filing chosen, the amount of equity in the house, and the willingness to continue making mortgage payments. Let&#8217;s delve deeper into this topic and address some related frequently asked questions (FAQs) to provide a comprehensive understanding.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_62 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#1_What_are_the_different_types_of_bankruptcy_filings_available\" title=\"1. What are the different types of bankruptcy filings available?\">1. What are the different types of bankruptcy filings available?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#2_Can_I_keep_my_house_if_I_file_for_Chapter_7_bankruptcy\" title=\"2. Can I keep my house if I file for Chapter 7 bankruptcy?\">2. Can I keep my house if I file for Chapter 7 bankruptcy?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#3_What_are_homestead_exemptions\" title=\"3. What are homestead exemptions?\">3. What are homestead exemptions?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#4_Are_there_limitations_on_the_homestead_exemption\" title=\"4. Are there limitations on the homestead exemption?\">4. Are there limitations on the homestead exemption?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#5_Can_I_keep_my_house_if_I_choose_Chapter_13_bankruptcy\" title=\"5. Can I keep my house if I choose Chapter 13 bankruptcy?\">5. Can I keep my house if I choose Chapter 13 bankruptcy?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#6_Will_filing_for_bankruptcy_stop_foreclosure\" title=\"6. Will filing for bankruptcy stop foreclosure?\">6. Will filing for bankruptcy stop foreclosure?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#7_Can_bankruptcy_help_eliminate_a_second_mortgage_on_my_house\" title=\"7. Can bankruptcy help eliminate a second mortgage on my house?\">7. Can bankruptcy help eliminate a second mortgage on my house?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#8_What_if_I_am_behind_on_mortgage_payments\" title=\"8. What if I am behind on mortgage payments?\">8. What if I am behind on mortgage payments?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#9_What_happens_if_I_have_a_joint_mortgage_with_someone_who_isnt_filing_for_bankruptcy\" title=\"9. What happens if I have a joint mortgage with someone who isn&#8217;t filing for bankruptcy?\">9. What happens if I have a joint mortgage with someone who isn&#8217;t filing for bankruptcy?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#10_Can_I_sell_my_house_if_I_file_for_bankruptcy\" title=\"10. Can I sell my house if I file for bankruptcy?\">10. Can I sell my house if I file for bankruptcy?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#11_What_if_my_house_has_more_equity_than_the_homestead_exemption_allows\" title=\"11. What if my house has more equity than the homestead exemption allows?\">11. What if my house has more equity than the homestead exemption allows?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#12_Should_I_consult_with_a_bankruptcy_attorney_before_making_a_decision\" title=\"12. Should I consult with a bankruptcy attorney before making a decision?\">12. Should I consult with a bankruptcy attorney before making a decision?<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"1_What_are_the_different_types_of_bankruptcy_filings_available\"><\/span>1. What are the different types of bankruptcy filings available?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nBankruptcy typically falls under two main categories: Chapter 7 and Chapter 13. Chapter 7 aims to discharge most unsecured debt, while Chapter 13 involves a repayment plan to creditors over a certain period.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Can_I_keep_my_house_if_I_file_for_Chapter_7_bankruptcy\"><\/span>2. Can I keep my house if I file for Chapter 7 bankruptcy?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nIf you file for Chapter 7 bankruptcy, you may be able to keep your house if you are current on your mortgage payments and the equity in your home is within the exemption limit set by your state.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_What_are_homestead_exemptions\"><\/span>3. What are homestead exemptions?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nHomestead exemptions are laws that vary by state and allow individuals to protect a certain amount of equity in their primary residence from being seized during bankruptcy proceedings.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Are_there_limitations_on_the_homestead_exemption\"><\/span>4. Are there limitations on the homestead exemption?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nYes, homestead exemptions have limits which vary by state. Some states have generous exemptions, allowing homeowners to protect a substantial amount of equity, while others impose stricter limits.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_Can_I_keep_my_house_if_I_choose_Chapter_13_bankruptcy\"><\/span>5. Can I keep my house if I choose Chapter 13 bankruptcy?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nChoosing Chapter 13 bankruptcy presents more flexibility to keep your house. It involves a debt repayment plan lasting three to five years, enabling you to catch up on missed mortgage payments while keeping your home.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"6_Will_filing_for_bankruptcy_stop_foreclosure\"><\/span>6. Will filing for bankruptcy stop foreclosure?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nFiling for bankruptcy triggers an automatic stay, which temporarily halts the foreclosure process, giving you time to evaluate your options and potentially catch up on missed payments.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"7_Can_bankruptcy_help_eliminate_a_second_mortgage_on_my_house\"><\/span>7. Can bankruptcy help eliminate a second mortgage on my house?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nUnder certain circumstances, bankruptcy can eliminate a second mortgage or home equity loan, particularly if the value of your house is less than what you owe on your first mortgage.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"8_What_if_I_am_behind_on_mortgage_payments\"><\/span>8. What if I am behind on mortgage payments?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nIf you are behind on mortgage payments, filing for bankruptcy may provide an opportunity to catch up through a Chapter 13 repayment plan. However, it is crucial to consult with an attorney to determine the best course of action.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"9_What_happens_if_I_have_a_joint_mortgage_with_someone_who_isnt_filing_for_bankruptcy\"><\/span>9. What happens if I have a joint mortgage with someone who isn&#8217;t filing for bankruptcy?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nIf you have a joint mortgage with someone who isn&#8217;t filing for bankruptcy, the non-filing party remains responsible for making the mortgage payments. However, bankruptcy may protect the equity that belongs to the filing party.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"10_Can_I_sell_my_house_if_I_file_for_bankruptcy\"><\/span>10. Can I sell my house if I file for bankruptcy?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nIn most cases, you can sell your house during bankruptcy proceedings. However, it is essential to consult with your bankruptcy attorney and consider the implications of such a decision.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"11_What_if_my_house_has_more_equity_than_the_homestead_exemption_allows\"><\/span>11. What if my house has more equity than the homestead exemption allows?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nIf your house has more equity than the homestead exemption permits, the bankruptcy trustee may sell the home, pay off the debt, and distribute any remaining funds to your creditors. However, this varies with each bankruptcy case.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"12_Should_I_consult_with_a_bankruptcy_attorney_before_making_a_decision\"><\/span>12. Should I consult with a bankruptcy attorney before making a decision?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nAbsolutely. The bankruptcy laws can be complex and vary by state. Seeking the guidance of a bankruptcy attorney is crucial to understanding the specific rules in your jurisdiction and ensuring the most favorable outcome for your situation.<\/p>\n<p>In conclusion, while it is possible to claim bankruptcy and keep your house, it largely depends on factors such as the type of bankruptcy filing, equity in the house, and ability to continue making mortgage payments. Each bankruptcy case is unique, and seeking advice from a qualified bankruptcy attorney is essential to navigate the process successfully.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>**Can you claim bankruptcy and still keep your house?** Financial difficulties can be overwhelming, often leading individuals or families to consider bankruptcy as a way to relieve their debt burdens. One of the most critical concerns for homeowners is whether they can claim bankruptcy while still keeping their house. The answer to this question largely &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Can you claim bankruptcy and still keep your house?\" class=\"read-more button\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#more-190203\">Read more<span class=\"screen-reader-text\">Can you claim bankruptcy and still keep your house?<\/span><\/a><\/p>\n","protected":false},"author":49,"featured_media":107420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86279],"tags":[],"class_list":["post-190203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-learn","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Can you claim bankruptcy and still keep your house?<\/title>\n<meta name=\"description\" content=\"**Can you claim bankruptcy and still keep your house?** Financial difficulties can be overwhelming, often leading individuals or families to consider\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Can you claim bankruptcy and still keep your house?\" \/>\n<meta property=\"og:description\" content=\"**Can you claim bankruptcy and still keep your house?** Financial difficulties can be overwhelming, often leading individuals or families to consider\" \/>\n<meta property=\"og:url\" content=\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/\" \/>\n<meta property=\"og:site_name\" content=\"Namso Gen Blog - Free Credit Card Generator [100% Valid]\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/synchronyfinancial\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-26T10:59:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/namso-gen.co\/blog\/wp-content\/uploads\/2024\/03\/faq.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Sherry Harper\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@synchrony\" \/>\n<meta name=\"twitter:site\" content=\"@synchrony\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sherry Harper\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/\"},\"author\":{\"name\":\"Sherry Harper\",\"@id\":\"https:\/\/namso-gen.co\/blog\/#\/schema\/person\/9d2314ef5c4621214ca2b3c8a5f86e31\"},\"headline\":\"Can you claim bankruptcy and still keep your house?\",\"datePublished\":\"2024-03-26T10:59:36+00:00\",\"dateModified\":\"2024-03-26T10:59:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/\"},\"wordCount\":668,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/namso-gen.co\/blog\/#organization\"},\"articleSection\":[\"Learn\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/\",\"url\":\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/\",\"name\":\"Can you claim bankruptcy and still keep your house?\",\"isPartOf\":{\"@id\":\"https:\/\/namso-gen.co\/blog\/#website\"},\"datePublished\":\"2024-03-26T10:59:36+00:00\",\"dateModified\":\"2024-03-26T10:59:36+00:00\",\"description\":\"**Can you claim bankruptcy and still keep your house?** Financial difficulties can be overwhelming, often leading individuals or families to consider\",\"breadcrumb\":{\"@id\":\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/namso-gen.co\/blog\/can-you-claim-bankruptcy-and-still-keep-your-house\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/namso-gen.co\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Can you claim bankruptcy and still keep your house?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/namso-gen.co\/blog\/#website\",\"url\":\"https:\/\/namso-gen.co\/blog\/\",\"name\":\"Namso Gen Blog - 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