Consider Chapter 7 Bankruptcy
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There are ways to keep a home when filing a chapter 7 bankruptcy, but the mortgage payment must be up to date and you must have little equity in the home. When this happens, the home becomes protected because there is a mortgage holder. As long as you pay the monthly payments and the property taxes, you can keep the home even if you file a chapter 7 bankruptcy. There are many laws governing a chapter 7 and that is why a lawyer should represent you when filing any bankruptcy. You do not have to lose everything when you file a chapter 7, and a good bankruptcy lawyer can advise you on how to best proceed.
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