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Will You Lose Your House?

Can I Keep My Home in Bankruptcy?

Keeping You in Your Home

One of the first questions people considering bankruptcy generally ask is, “Will I lose my house?” Because you have worked hard to purchase your home, and that is where so many memories have been made, it is an important question. The fact is that many people who file for bankruptcy are able to retain their homes, as long as the home's equity is protected by bankruptcy exemptions and if they are able to keep up with their mortgage every month.

At RHM LAW LLP , we are committed to helping families overcome debt problems and rebuild their financial lives on more solid footing. Our attorneys have helped countless individuals in Los Angeles, Encino and other Southern California communities get financial relief and stay in their homes.

Schedule your free consultation to discuss your bankruptcy questions.

What Happens to My House When I File for Bankruptcy?

If you are in default on your home mortgage and have been notified that the lender is pursuing foreclosure, it is important that you take action immediately. Filing for bankruptcy is one way to save your home. When you file either Chapter 7 or Chapter 13 bankruptcy, the court issues an automatic stay. This freezes all foreclosure actions temporarily while you sort our your finances and debts.

Depending on whether you file Chapter 7 or Chapter 13, here is what you can expect for your home:

  • Under Chapter 7 bankruptcy, your unsecured debt is discharged, leaving more money for you to work on becoming current on your mortgage obligations. As long as you are able to keep up with your monthly mortgage, you will be able to keep your home.
  • With Chapter 13 bankruptcy, any past due amounts are rolled into a monthly repayment amount that you make over three to five years without interest or penalties. We can even remove junior liens forever! However, if your income is not enough to afford your mortgage payments, the bank may eventually foreclose your home.

Our lawyers can also advise you about how to avoid foreclosure through a short sale, weighing the pros and cons of that possibility.

Need to Stop Foreclosure? Call Us Immediately.

To learn more about how you can avoid foreclosure, speak with the professionals at RHM LAW LLP . We welcome the opportunity to meet with you during a free initial consultation and discuss your unique situation. Not only do our attorneys know the bankruptcy laws from the inside out, but they also understand how important your home is to you.

Call (213) 344-0043, or contact our firm online today.

For your convenience, we meet with clients at our offices in Los Angeles and Encino from 7:00 a.m. to 7:00 p.m., Monday through Friday. Weekend appointments are also available. We offer payment plans.

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Client Reviews

What Clients Say About Working With Us
    "Without the support of pro bono attorneys we couldn't do all the work we need to do, and your firm in particular is outstanding."

    Thank you for your great work on behalf of Ms. Johnson. Without the support of pro bono attorneys we couldn't do all the work we need to do, and your firm in particular is outstanding.

    - Skip K.
    "These are top-notch pros that'll have your back. I cannot recommend them highly enough."
    Where to begin? I had a vile evil credit union repo my car over a misunderstanding, they wouldn't work with me even when I offered full payment plus repo fees (this was my first repo!) so I didn't know what to do. I met with a few lawyers but when I met with Simon he broke things down and gave me my options. I needed a car - so I filed BK and included the car to get it back. The evil credit union fought and Simon GOT ME MY CAR BACK!!! His team is amazing!!!! Maria Donna etc!!! These are top-notch pros that'll have your back. I cannot recommend them highly enough. Sincerely they saved my life. LA with no car!? ARGH!!!!!! *THANX ALL!!!!
    - Tim C.
    "I filed bankruptcy with this firm 3 years ago and found that they are professional, friendly, and compassionate."
    I filed bankruptcy with this firm 3 years ago and found that they are professional, friendly, and compassionate. I also met with their loan modification department. Unfortunately, they were unable to help because of the type of loan that I have. I really appreciated that they did not lie, waste my time, or take my money in an attempt to modify a loan that was not doable. I've since used their firm for a couple of minor issues and found all of the attorneys to be knowledgeable and considerate. Attorneys Simon and Resnik are amazing!
    - Shannon J.
    "He negotiated on my behalf with a credit card company and was able to settle with them for much lower than I could have on my own."
    I worked with David Kritzer at this firm, and he was great. He negotiated on my behalf with a credit card company and was able to settle with them for much lower than I could have on my own thanks to his knowledge and expertise in the field. If you have a debtor on your back go to him to get it taken care of.
    - Kelly S.
    "As the dank blanket of economic uncertainty continues to depress the hopes of many of us, I keep your business cards and number available for others."
    This is to thank you for the exceptional work of you and your fine staff. In managing my bankruptcy and loan modification, a nearly five-year effort, your performance was stellar. I never felt alone or adrift, key concerns in those circumstances. The outcome was outstanding. As the dank blanket of economic uncertainty continues to depress the hopes of many of us, I keep your business cards and number available for others. Without hyperbole, I can attest that you are present a beacon. Thank you so much.
    - K.C.
    "Was very impressed with the comprehensive professionalism of the firm..."

    Was very impressed with the comprehensive professionalism of the firm, especially Matthew Resnik... I had suffered through the incompetence of two previous bk lawyers not to mention fees far greater than anticipated, without resolution. Having never gone through bk before, I did not realize how difficult it could be...then, my case was turned over to Mr. Resnik...almost immediately there was a marked positive difference. Where there was little to no communication, all of a sudden I am getting updates...regularly. Further, my case was finally discharged...yet, Mr. Resnik continues to communicate, offer assistance...and, has NEVER asked for additional fees, which I am sure he could have justified...much unlike the two previous attorneys with which I was dealing. I have no reservations, whatsoever, referring and recommending Matthew Resnik for any and all business or personal bk issues...or, other wise. I have no doubt that he will be transparent on helping you regardless of the problem. Good guy.. good firm... a wonderful experience!

    - G.L
    "He not only saved my house but also got rid of all my debt. They are not your typical attorneys and their creativity really allowed me to do things that other attorneys never mentioned in previous consults."
    Fantastic office! I want to thank Matt for taking his time with me and sincere in his assistance. He spent over an hour with me for free during our initial consult. I left knowing exactly what's needed. He not only saved my house but also got rid of all my debt. They are not your typical attorneys and their creativity really allowed me to do things that other attorneys never mentioned in previous consults. Affordable and Outstanding firm and thank you for all you have done! My family thanks you!
    - David K.
    "They were thorough, extremely knowledgeable, wonderful to deal with, thoughtful, and really helped guide me through what was one of the toughest times in my life."
    Matt and his team are the best!!  They were thorough, extremely knowledgeable, wonderful to deal with, thoughtful, and really helped guide me through what was one of the toughest times in my life. I never felt judged or looked down on. They were efficient and really were lifesavers during this tough time. I can not recommend them highly enough!!!!
    - Rusty H.
    "We are very happy that you were able to accomplish the modification of our loan in such a short period of time. Thank you again for your professional service."

    Dear Mr. Resnik: We wanted to thank you for your professional handling of our loan modification with GMAC mortgage. We are very happy that you were able to accomplish the modification of our loan in such a short period of time. Thank you again for your professional service.

    - W and B Mejia

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