Legal Question in Bankruptcy in New York
Possible bankruptcy
What determines whether you lose you home if you file bankrupcy
1 Answer from Attorneys
Re: Possible bankruptcy
Whether a debtor gets to keep his or home in a bankruptcy case depends on a number of factors, such as whether or not there is equity in the house, how much of a homestead exemption the debtor is able to claim, if there is a mortgage whether the debtor is current with mortgage payments to the lender or not, and finally what chapter of bankruptcy the debtor files (i.e., Chapter 7 or Chapter 13).
Please review the Frequently Asked Questions (FAQs) and Blog postings on our website at www.starrandstarr.com. Particularly, the June 24 2009 Blog postings "NY Foreclosure & Chapter 13 Bankruptcy".
The foregoing is not intended as legal advice for your situation. Facts and circumstances not disclosed in your brief posting may materially affect your rights. You should consult with a bankruptcy attorney.
Best regards,
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