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Bankruptcy FAQs Top-Rated Attorneys in Los Angeles

Can I Keep My Home in Bankruptcy?

Keeping You in Your Home

One of the first questions people considering bankruptcy generally ask is, “Will I lose my house?” Because you have worked hard to purchase your home, and that is where so many memories have been made, it is an important question. The fact is that many people who file for bankruptcy are able to retain their homes, as long as the home's equity is protected by bankruptcy exemptions and if they are able to keep up with their mortgage every month.

At RHM LAW LLP , we are committed to helping families overcome debt problems and rebuild their financial lives on more solid footing. Our attorneys have helped countless individuals in Los Angeles, Encino and other Southern California communities get financial relief and stay in their homes.


Schedule your free consultation to discuss your bankruptcy questions.


What Happens to My House When I File for Bankruptcy?

If you are in default on your home mortgage and have been notified that the lender is pursuing foreclosure, it is important that you take action immediately. Filing for bankruptcy is one way to save your home. When you file either Chapter 7 or Chapter 13 bankruptcy, the court issues an automatic stay. This freezes all foreclosure actions temporarily while you sort our your finances and debts.

Depending on whether you file Chapter 7 or Chapter 13, here is what you can expect for your home:

  • Under Chapter 7 bankruptcy, your unsecured debt is discharged, leaving more money for you to work on becoming current on your mortgage obligations. As long as you are able to keep up with your monthly mortgage, you will be able to keep your home.
  • With Chapter 13 bankruptcy, any past due amounts are rolled into a monthly repayment amount that you make over three to five years without interest or penalties. We can even remove junior liens forever! However, if your income is not enough to afford your mortgage payments, the bank may eventually foreclose your home.

Our lawyers can also advise you about how to avoid foreclosure through a short sale, weighing the pros and cons of that possibility.

Need to Stop Foreclosure? Call Us Immediately.

To learn more about how you can avoid foreclosure, speak with the professionals at RHM LAW LLP . We welcome the opportunity to meet with you during a free initial consultation and discuss your unique situation. Not only do our attorneys know the bankruptcy laws from the inside out, but they also understand how important your home is to you.


Call (213) 344-0043, or contact our firm online today.


For your convenience, we meet with clients at our offices in Los Angeles and Encino from 7:00 a.m. to 7:00 p.m., Monday through Friday. Weekend appointments are also available. We offer payment plans.

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Committed to making the process as stress-free as possible for our clients, our Los Angeles bankruptcy attorneys and dedicated staff will handle everything for you. From filling out paperwork through getting end results, we will work to help your case run smoothly and efficiently. We serve our clients in English, Spanish and Farsi.