keeping your home after filing for bankruptcy

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  1. 1. Keeping Your Home After Filing For Bankruptcy By: figo A lot of people worry about that they will lose their home if they file for bankruptcy. But in the vast majority of cases, that is not the case. Bankruptcy attorney Benjamin Ginter, who runs the Law Offices of Benjamin J. Ginter in Cranford, New Jersey, explains here why you will still be able to keep your house after filing for bankruptcy. In most cases, you can keep your home when you file for bankruptcy. It all depends on factors such as where you live, how much equity you have in the property, or how far you are behind in the mortgage payments. If you have a home or own any kind of real estate, its more important than ever that you hire a bankruptcy attorney. Filing the wrong bankruptcy could jeopardize your home. Federal and State Exemptions Knowing what exemptions are available is important for people who are going to file for bankruptcy. Keep in mind, however, that along with federal exemptions, there are also state ones, which vary from state to state. You may choose to use either the federal or state exemptions when you file for bankruptcy. The amount of bankruptcy exemptions is determined by either federal or state law. Exemptions allow an individual to exempt or keep certain kinds of property. You should check with your bankruptcy lawyer for a full federal and state exemption list. Having Equity in Home If you have quite a lot of equity and you are unable to use the applicable exemptions, you can file a Chapter 13. In this case, your payments are basically based on how much the trustee would have been able to take had you filed a Chapter 7. Lets take an example. A person has $30,000 of equity in his house in addition to the exemptions to the house, thats how much he would have to pay back in a Chapter 13 plan. A payment plan usually lasts from 3 to 5 years, so the person would then pay that $30,000 off over 36 months. Not Having Equity in Home People who dont have equity in their home find things a bit different. If you have limited equity in your house or no equity whatsoever, you can file Chapter 7 without the bankruptcy trustee taking an interest in selling your house. Given the current real estate meltdown in America, most people are finding that either their house is barely worth what the overall mortgage payoff is, or their house is worth less than what they have to pay back on their mortgage. About the Author:
  2. 2. Article Published On: - Legal Legal RSS Feed | RSS feed for this author The Best Suggestions For Considering Employment Lawyers In Nyc For Employment Contracts By: Audrey L. Langley - If you are an employer, employment legal contracts are incredibly essential when you're hiring new employees. It's not an easy task to develop contracts so you'll need the help of an employment lawyer in NYC to make this possible.Tags: employment lawyers new york, employment lawyers nyc, new york employment lawyersFind Justice Through The Aid Of The Top Employment Lawyer By: Elisa Dean - Diverse laws exist to make certain that the rights of people aren't violated. There are instances wherein the rights of a certain person ends, while the other is starting. When a legal conflict happens between two parties, it is of utmost importance to fi ... Tags: NYC Employment Lawyer, Employment Lawyers NYC, NYC Employment Attorneys, NYC Employment LawyerWhat Makes A Employment Lawyer Dependable? By: John T. Tate - Employment-related lawsuits are complicated issues, so looking for the best employment lawyer is vital. It is crucial for people to consider that not all lawyers have the competency to deal with employment related cases. Therefore, one should be careful i ... Tags: NYC employment attorneys, employment lawyer NYC3 Essential Benefits Of Considering New York Employment Lawyers By: Elisa Dean - If you're seeking a New York employment lawyer, you'll find a lot of things that you must think about and you'll find things that you must avoid by any means. Legal representatives are specialists so you should also behave like an expert when conversing w ... Tags: employment lawyers new york, new york employment lawyer, new york employment lawyersSignificance Of Hiring New York Employment Lawyer By: Margaret White - Everyone is struggling to establish their career as the economy is going through some crises. If you'd like to succeed in your field, you need to work more because there are competitors who are willing to do everything to obtain your job. Even so, you mus ... Tags: EmploymentAttorney, NYCEmployment Attorneys, New York Employment Lawyer, New York Employment LawyersStep-by-step Details On Purchasing Employment Lawyers By: William Begley - When you have any plans of employing or firing workers, employment laws must be your basis if you don't wish to experience any legal issues in the future. It will almost always be the responsibility of the business to follow the laws since if they decide ... Tags: new york employment lawyer, employment lawyers new york, new york employment lawyers, employment lawyers nycComparing Basic Details Of Considering Employment Lawyers In Nyc For Employment Contracts By: Robert K. Sanders - If you're an employer, employment contracts are incredibly important when you're hiring new staff. It is not an easy task to develop legal contracts so you need the help of New York employment lawyers to make this happen.Tags: new york employment lawyers, employment lawyers nyc, new york employment lawyer, employment lawyer nyc5 Advantages Of Thinking About Employment Lawyers In New York By: Elisa Dean - We've been learning about the fundamental privileges of employees because the employment law has been concentrating on this, but employers also have their very own rights. This is actually the main reason why most organizations employ a New York employmen ... Tags: new york employment lawyers, employment lawyer new york, employment lawyers nyc, new york employment lawyerThe Technique Guide To Employ New York Employment Lawyers By: Margaret White - When you're looking for a New York employment lawyer, you must consider the things that you have to do and the things that you need to avoid. Attorneys are very professional so you have to act like a professional as well when you're employing one.Tags: new york employment lawyer, new york employment lawyers, employment lawyer new york, employment lawyers nyc, employment lawyers new yorkProtect Yourself From Work-related Discrimination By Employing The Services Of Nyc Discrimination At By: Donald Geary - No matter how modern a city may seem such as New York, the issue of discrimination is still present. There are strict laws about employment and it condemns unjust or unfavorable treatment based on an
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