Trying to Keep Your Home in a Bankruptcy Filing

February 27, 2010 on 4:50 pm | By | In Business | Comments Off

When filing bankruptcy your house may be exempt, but it doesn’t mean you get a free house. You will have to keep making your mortgage payments if you have a mortgage and want to keep your house after you file for bankruptcy. Many people are under the impression that by filing bankruptcy, they get to keep their home and the mortgage will be written off in the bankruptcy. Unfortunately that is not how a bankruptcy filing works. To keep your home you have to pay the mortgage owed. Exemptions in bankruptcy determine how much equity you get to protect from the creditors and/or bankruptcy.

Share and Enjoy:
  • Print
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Blogplay

No Comments yet

Sorry, the comment form is closed at this time.