Legal Question in Bankruptcy in California

keeping my home???

I have about 15,000 in equity in my home.

but my dept totals to about 32,000..

Can i still keep my house???

Is there any chance of losing my house if i file

for bankrupcy..??

thank you


Asked on 2/19/00, 11:08 am

2 Answers from Attorneys
Melody Stickel-Martinez Melody Stickel-Martinez, Esq.

Re: keeping my home???

The homestead of an individual is exempt and therefore protected when bankruptcy has been filed, provided that the mortgage is current. I suggest that you retain a bankruptcy attorney in your area when you decide to file. There are other exemptions which may benefit you. In addition, read my web page www.attorney-4u.com. It has some helpful information for those considering filing for bankruptcy. Good Luck.

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Answered on 2/23/00, 7:21 pm
Mark Markus Law Office of Mark J. Markus

Re: keeping my home???

In California there are two sets of homestead exemptions and, depending on what the value of all your other assets are, you should be able to keep your house in either a chapter 7 or chapter 13. However, a comprehensive consultation would be necessary before telling you for sure. I suggest you visit my website for more information and if you'd like a free consultation, please give me a call and I will be happy to assist. http://www.bklaw.com/

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Answered on 2/23/00, 7:54 pm


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