← All ResourcesBankruptcy & Your Home: What You Can Do
Bankruptcy doesn't always mean losing your home. Understanding the rules can help you make the best decision for your financial fresh start.
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Chapter 7 vs. Chapter 13
In Chapter 7, non-exempt assets may be sold to pay creditors — but New York's homestead exemption may protect some equity. In Chapter 13, you typically keep your home while following a repayment plan.
Can You Sell During Bankruptcy?
Yes, but you need court approval (called a 'motion to sell'). Your bankruptcy trustee and attorney guide this process. The proceeds go toward satisfying creditors, but remaining equity may be yours.
Frequently Asked Questions
Will I lose my home in bankruptcy?
Not necessarily. New York's homestead exemption (up to $179,975 in Dutchess County) may protect your home equity.
