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Bankruptcy News > Property in bankruptcy Video

If I declare bankruptcy, can I lose my house?

While it is possible to lose your house in a bankruptcy, This generally does not happen if you use a bankruptcy attorney, and unless this is the desired result. Most people in both chapter 7 and chapter 13 keep their homes if that’s what they want to do. With the declining real estate values that we’re seeing in our current economy, there are a number of people who could keep their homes but decide that is not in their best interest to do so. Therefore, is not a function of the bankruptcy that causes the consumer to leave the house behind and let it go back to the bank, but rather it is the choice of the consumer.

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