Your Home in Chapter 7 Bankruptcy

More Legal Topics

Related Ads

Need Professional Help? Talk to a Lawyer
Enter Your Zip Code to Connect with a Lawyer Serving Your Area

If you own a home, it's important to know what will happen to that home if you file for Chapter 7 bankruptcy. Many homeowners contemplating bankruptcy have questions such as:

Will the Chapter 7 bankruptcy trustee sell my home to pay my creditors?
What are my options for dealing with my mortgage in Chapter 7?
How else can Chapter 7 help if I'm having trouble making my mortgage payments?

The below articles provide answers to these questions and more. To learn more about how Chapter 7 can help with foreclosure, visit our Bankruptcy & Foreclosure section.

Overview Articles

Get the basics on how a Chapter 7 bankruptcy works and how it may affect you as a homeowner.

Your Home in Chapter 7 Bankruptcy
What happens if you own a house and file for Chapter 7 bankruptcy?
How does the bankruptcy trustee sell my home?
Learn about the sale process if the bankruptcy trustee sells your home in Chapter 7.

Keeping Your Home in Chapter 7 Bankruptcy

Find out if you can keep your home and equity in a Chapter 7 bankruptcy.

Will I Lose My Home in Chapter 7?
In many cases you can keep your home in Chapter 7 bankruptcy. Learn more here.
Will the Trustee Abandon My Home in Chapter 7 Bankruptcy?
If the bankruptcy trustee abandons your home, you get to keep it. Find out when this might happen.
My House is Worth a Lot. Will the Trustee Sell It If I File for Chapter 7?
If you own an expensive house and file for Chapter 7 bankruptcy, the amount of the mortgage and the homestead exemption in your state will determine if you can keep it.
Can I Keep My House in Chapter 7 Bankruptcy If I Don't Have a Mortgage?
If you don't have a mortgage, you can keep your home in Chapter 7 bankruptcy if your equity is exempt. Learn more.
What Happens If I Surrender My House in Chapter 7 Bankruptcy?
If you don't want, or cannot afford, to keep your home, you can surrender it in Chapter 7 bankruptcy.
Can I Keep My House in Chapter 7 Bankruptcy If I Have No Equity?
If you have no equity in your home, you can keep it in Chapter 7 bankruptcy.
Can I Discharge HOA Dues in Chapter 7 Bankruptcy?
What happens to HOA dues in Chapter 7 bankruptcy depends on whether you plan to keep or surrender your home.

Chapter 7 Bankruptcy & Your Mortgage

For most people, their mortgage is their biggest debt. Find out how a Chapter 7 bankruptcy affects it.

Will Chapter 7 Get Rid of My Mortgage?
Although Chapter 7 bankruptcy gets rid of your personal liability on your mortgage, the lender can still foreclose if you stop paying.
Can I Lower My Mortgage Payment in Chapter 7?
You cannot lower your mortgage payment with Chapter 7. But there are some nonbankruptcy options to reduce your mortgage payment.
I'm behind in my mortgage, can Chapter 7 help?
Chapter 7 bankruptcy can temporarily delay foreclosure. If you want to permanently save your home, however, you'll have to consider other options.
Can I Get Rid of Second Mortgages and Liens in Chapter 7 Bankruptcy?
If you live in Alabama, Florida, or Georgia, you might be able to get rid of junior mortgages in Chapter 7 bankruptcy.

Chapter 7 Bankruptcy & Foreclosure MORE ARTICLES

Chapter 7 can delay foreclosure, but doesn't provide a permanent solution. It might help you in other ways, however.

Chapter 7 Bankruptcy and Foreclosure
Visit Nolo's Bankruptcy & Foreclosure section for articles on saving your home with Chapter 13, delaying foreclosure with Chapter 7, and more.

The Homestead Exemption

The homestead exemption can help protect home equity when you file for bankruptcy. Learn how it works and what your state's exemption protects.

Bankruptcy's Homestead Exemption
Learn about the homestead exemption in general and get information on the homestead exemption in each of the 50 states.
How to Value Your Home in Bankruptcy
Coming up with the correct home value can be important in Chapter 7.