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Well, I need to know whether or not I can file bankruptcy and still keep my house. I have been drawing unemployment for 2 years. I pay over $650 a month in child support which will be reduced. I have about 70K in credit card debt, but my problem is that I have about 100K in equity in my house. My wife works and the w2's will probably say about $50K for this year. Please help!!

jerry · Posted: Fri Jan 27, 2012 3:03 am Post subject:

Hi Jaqline,

You will be able to save your property provided you reaffirm your loan. This will make you personally liable for the mortgage payments. However, there are chances that the trustee won't let you reaffirm the loan due to the equity in the property and may sell it off to pay off your creditors.

Thanks,

Jerry

jameshogg · Posted: Fri Jan 27, 2012 10:51 pm Post subject:

Hi Jaqline,

You will be able to save your home even if you file Chapter 13 bankruptcy. You will get a repayment plan depending upon your financial situation which will help you in paying off your mortgage and you will be able to save your property.

Thanks

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