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I have taken out a second mortgage loan on my house. The amount is $150,000. However, I have a huge amount of debts due to which I will be filing bankruptcy. What are the ways in which I could save my home from a bankruptcy and keep making payments on the home equity loan?

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Are you planning to file chapter 7 bankruptcy or Chapter 13. You can protect your home in Chapter 13 bankruptcy. In this type of bankruptcy, you can pay off your mortgage through a debt repayment plan. You'll have the chance to make up the late payments through the new debt repayment plan. 

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Last Updated on: Fri, 8 Jun 2018