It is not required that you file chapter 13 in order to keep your house. Which chapter you need to file and whether you can keep your house depends on a number of different factors, such as whether you are behind on the mortgage payments, how much equity is in the house, the value of your other assets, and what exemptions are available under applicable law.

Exemptions are "protections" for value you have in certain assets such that they are "exempt" from collections. Every state has different exemptions amounts available. Exemption laws are based on the state where you resided for the 2 years prior to filing your bankruptcy case or, if you lived in more than 1 state during that period, in the state where you resided for the greater part of the 180 days prior to that 2 year period.

You need to consult with a bankruptcy attorney in your area regarding what needs to be done in your situation, as well as for the costs.

Mark J. Markus, Attorney at Law

Handling exclusively bankruptcy law cases in California since 1991.

http://www.bklaw.com/

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