Can I keep my house if I file for chapter 7? 13 Answers as of August 25, 2015

I have mortgage 1st year, and it seems like I have to file bankruptcy. If I file chapter 7, can I keep the house if I will make payments?

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The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
Yes as long as you either have no equity or more exemption than your equity.
Answer Applies to: New York
Replied: 7/16/2015
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
That would be a yes.
Answer Applies to: Colorado
Replied: 8/25/2015
A Fresh Start
A Fresh Start | Dorothy G Bunce
As long as your equity in the house is less than the amount of exemption available to you under state laws, and as long as you keep your payments current, you can keep your house after filing chapter 7. if you have owned your house for less than 3 years, the exemption available to you to protect your equity is $155,675. If you have owned your home for more than 3 years, the exemption goes up to $550,000.
Answer Applies to: Nevada
Replied: 7/14/2015
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Yes, so long as you do not have more equity than allowed in your state. Google your state and "homestead exemption" and the numbers will come up for you. Every state is different.
Answer Applies to: California
Replied: 7/14/2015
Ronald K. Nims LLC | Ronald K. Nims
That would be a yes.
Answer Applies to: Ohio
Replied: 8/25/2015
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