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Ellen, Attorney
Category: Bankruptcy Law
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Experience:  Bankruptcy Lawyer. Experienced.
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if you doe a chapter 7 in ma. can you keep your house and how

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if you doe a chapter 7 in ma. can you keep your house and how long after chapter 7 can you sell your house
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 7 years ago.

I am the JustAnswer expert that will be helping you today. I am a lawyer with 25 years experience. Although I am not your attorney, I hope that I can give you helpful legal information.

In a chapter 7 bankruptcy in Massachusetts, the first $100,000 in equity of the house is exempt. If you are over 65 or disabled, $200,000 is exempt. Equity is the amount that the fair market value of the house exceeds the mortgage. You may sell your home immediately after the chapter 7 bankruptcy
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