Juras Law Firm, PLC
Representing clients Throughout the United States Czech Republic Central Europe
Juras Law Firm, PLC
International Law Business Law Immigration Law Business-Based Immigration Law

7150 East Camelback Rd
Suite 444
Scottsdale, Arizona 85251 USA
Map & Directions

Toll Free: (888) 871-4713
Phone: (480) 425-2009

 

Will you lose your home if you file bankruptcy?

In Chapter 13 bankruptcy, you will probably be able to keep your house if you stay current on your mortgage payments. In Chapter 7 bankruptcy, it depends on the value of your house. You can keep certain exempt equity in your house the value of which depends on the state where you live (or you recently lived). In Arizona, you can exempt $150,000 equity in your house. However, if you bought your house within 1215 days (approx. 3.3 years) prior to filing for bankruptcy, only your equity in the amount of $136,875 can be exempt.