Legal Question in Bankruptcy in California

Re: Bankrupty - Can I Lose my Home?

What chapter was filed? What is the equity in the home? What exemptions were taken and in what amount for the equity?

Re: Bankrupty - Can I Lose my Home?

There are many reasons that the BK court might want Ins. papers, i. e. to insure that there is no cash value in life policies, or that assets are properly insured, etc. However, unless the BK involves an operating business it is unusual to ask for Ins. papers.

Yes you can lose your home. However, if there is no equity, or whatever equity there is in the home is covered by an exemption you'll not lose your home. There are two exemptions schedules in California, and one favors home owners. You may also exchange non-exempt property for exempt property.