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Tag: kind of bankruptcy

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The “Homesteading” Part of the Bankruptcy Process

When a person files for Chapter 7 Bankruptcy, they are entitled to a homestead exemption.  This amount differs from state to state. If the bankruptcy trustee determines that you have more equity in your home than is allowed, they are allowed to sell the home to the highest bidder, pay you your “homestead exemption” amount and […]

Walking Away From a House Included in Bankruptcy

Bankruptcy can make mortgage payments on a home complicated, to say the least. Many people find themselves with no other option but to leave the house they have a mortgage on when they attempt to obtain the protection from debt that bankruptcy was designed to provide. Because of this, I am often asked whether or […]