If I file for bankruptcy can I keep my home?

UPDATED: Sep 17, 2011

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If I file for bankruptcy can I keep my home?

I am on SASD from being in the World Trade Center; it ruined my lungs and I can’t work. I can no longer meet my mortgage payments and my credit cards are maxed. I have no assets and no family that can help me.

Asked on September 17, 2011 under Bankruptcy Law, New Jersey


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I am so sorry for you situation.  Generally speaking, bankruptcy laws allow you to "reaffirm" your mortgage rather that to ask that it be discharged in the bankruptcy.  But re-affirming the mortgage is a promise to continue to pay the mortgage a is and from what you have written that is too difficult for you.  Is it possible that you would be able to modify the mortgage as it is now?  And then once you discharge the credit card debt you can afford the payments?  With out knowing more it is difficult to know how to help.  Please go and seek some credit counseling in your area.  Call you state attorney general's office and see if there are any free services available.  Good luck. 

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