Legal Question in Bankruptcy in California

can i keep house

If i filed chapter-7 bankruptcy and payed off all delinquint/ pastdue debt and payed all atterney/trustdee and court fee's (infull), could i keep the house from being sold by the trustdee, could i keep the house?


Asked on 1/30/05, 11:31 pm

2 Answers from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Re: can i keep house

I assume from your question that your home is in foreclosure. A bankruptcy will temporarily stop the foreclosure, and give you some breathing room to make arrangements to catch up. Depending on the equity in the house, you might consider a Chapter 13 where you pay the arrears over time and continue to make your mortgage payments. This is a very general answer and requires more specificity for one to fully answer. I suggest that you consult with a lawyer immediately because this is a very serious matter.

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Answered on 1/31/05, 2:29 am
Chris Johnson Christopher B. Johnson, Attorney at Law

Re: can i keep house

I'd have to know more, but generally you can keep the house if the arrears are paid off and any equity you have in it is at or under the homestead exemption allowed in California. If you will have trouble paying off the arrears, you may want to consider a Chapter 13, in which you can pay off the arrears over time in your repayment plan. I'd suggest seeing an attorney about all this, as even filing for bankruptcy only buys you a bit of extra time before a foreclosure.

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Answered on 1/31/05, 12:19 pm


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