CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Will I lose my home if I file for bankruptcy?

Transcription:

Hi, I’m Robert Geller. I am a consumer bankruptcy attorney in the Tampa Bay area. I wanted to answer some questions about whether you will lose your home if you file for bankruptcy.

I can say that with very, very limited exceptions that you do get to keep your home in Florida when you file for bankruptcy.

Florida offers people filing for bankruptcy a homestead exemption. This means your home is exempt when you file, which means the bankruptcy court or the bankruptcy trustee cannot take your home. They can’t take it to sell your creditors no matter what it worth. With the homestead exemption, you get to protect it and you get to keep it. This doesn’t mean you can stop making payments on your mortgage and there are instances in which you could still face foreclosure, but the court cannot seize your home and make it a part of the bankruptcy estate.

The other good news about your home and bankruptcy is that if you’re behind on your mortgage payments, filing for bankruptcy might even be a good thing for you. Filing chapter 13 can help you catch up on your mortgage payments or get them a mortgage modification.

Florida is very generous with the homestead exemption (some other states limit the exemption amount and if your home is worth more than a certain amount you could lose it). But in Florida, it doesn’t matter what it’s worth – it’s part of the homestead exemption and you might qualify for mortgage modification.

I’m attorney Robert Geller and I want to help you build a bridge to a brighter future.

Video Testimonials

Tampa Bankruptcy Law Blog

5 Common Budgeting Mistakes Newlyweds Make and How to Avoid Them

Budgeting mistakes are common, especially when you’re young. Not all newlyweds are young adults, but many first-time marriages do involve...
Read More

When Should Married Couples File for Bankruptcy Together?

There's no easy answer to the question of timing when it comes to bankruptcy. In some cases, it may make...
Read More

Can Your Spouses Debt Force You Into Bankruptcy?

If you're married and your spouse has a lot of debt, you may be wondering if that debt can force...
Read More

Do You Need a Bankruptcy Attorney If You’re Divorcing with Financial Problems?

Divorce and bankruptcies are more common than many people realize. Financial problems make a stressful transition even more difficult. If...
Read More

Can You File Bankruptcy without Your Spouse?

Filing for bankruptcy is a decision that should not be taken lightly. It can affect your financial life and the...
Read More

How Seniors Can Avoid Bankruptcy

Seniors are at a high risk of bankruptcy, but there are ways to avoid it. What do you need to...
Read More

What Happens If I Own Too Many Assets to File for Chapter 7?

Does hiding assets in bankruptcy protect them from your creditors? If you own too many assets to qualify for Chapter...
Read More

How to Find the Best Lawyer for Filing for Bankruptcy after Retirement

Many retirees decide to file for bankruptcy as a way to get a fresh start. But finding the right lawyer...
Read More

Does Declaring Bankruptcy Affect My Retirement Savings?

When you're struggling with debt, the thought of bankruptcy might cross your mind. But what would that mean for your...
Read More

Is a Reverse Mortgage Right for Me?

Reverse mortgages in Florida are loans that allow homeowners 62 and older to borrow against the equity in their homes....
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo avvo1 avvo2 avvo3 LEA BBB Logo

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions