Will I lose my home if I file for bankruptcy?

Because every situation is unique, it's important that you speak with a qualified and experienced New York bankruptcy attorney like Tom Minotti. If you file a Chapter 7 bankruptcy but have too much equity in your home, you could be at risk of losing the house. In this situation, a Chapter 13 bankruptcy would be better for you.

In a Chapter 13 bankruptcy, you could use the 3 to 5 year repayment period to pay back missed mortgage payments. You might also be eligible for a loss mitigation program that will allow you to apply for a modification of your mortgage.

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