341 Hearing – What Is It?:
Basics on Surrendering a Car:
Car Repossession Timeline and Surrendering Timeline:
Chapter 13 Bankruptcy Basics:
Chapter 13 – Keeping Cars:
Chapter 13 – Keeping Homes:
Chapter 13 – Taxes Dischargability/ Dealing with Taxes:
Chapter 7 & Chapter 13 Differences:
Chapter 7 Bankruptcy Basics:
Chapter 7 – Taxes Dischargability:
Child Support – Treatment in Chapter 7 and Treatment in Chapter 13:
Confirmation Hearing:
Consultations - The Basics:
Credit Reports:
Creditor Harassment and Resources:
Do I Need an Attorney?:
Exemption Limits:
Foreclosure Timeline:
Garnishments – How They Work:
How does Bankruptcy & Debt Consolidation Differ?:
How Long Until Court?:
How Long until I can File
Keeping Cars – Chapter 7:
Keeping Homes – Chapter 7:
Preparing for Consultations:
Reaffirmation Agreement Basics:
Redemption:
Should I File a Chapter 7 or Chapter 13?:
Student Loans:
The Basics for Surrendering a Home:
This page has a pdf attached:
Timeline for a Chapter 13 Bankruptcy:
Timeline for a Chapter 7 Bankruptcy:
What are Priority Debts? :
What are Un-secured Debts?:
What can be done about Creditor Harassment?:
What can be done with an ARM (Adjustable Rate Mortgage)?:
What Debts Cannot be Discharged by Bankruptcy?:
What Happens to Garnishments? :
What Happens to Judgments?:
What is a Discharge:
What is a Trustee
What Property Can I Keep?:
Where do Bankruptcy Hearings Take Place:
“Automatic Stay” Order:

Keeping Homes

Many clients want to know whether or not they can keep their home in a Chapter 7 bankruptcy filing. In most instances, as long as the debtor is current on their home when entering the bankruptcy and remains current on their home through out the bankruptcy, they are allowed to keep their home.

Many mortgage companies require the debtor sign a Reaffirmation Agreement in order to keep the property. Reaffirmation Agreements are contracts between the debtor and the lender essentially removing the mortgage from the bankruptcy proceedings. Debtors should be certain when signing a Reaffirmation Agreement on their home that they are able to make and continue to make their monthly mortgage payments.

After a Reaffirmation Agreement has been signed, there are no Bankruptcy Court protections regarding that mortgage. As such, debtors must be certain of their ability to continue to pay their monthly mortgage payment before signing a Reaffirmation Agreement.