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Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31770
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I am doing Chapter 13 in Northern California. Can I exempt

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I am doing Chapter 13 in Northern California. Can I exempt my private residence?

Hi - my name is XXXXX XXXXX I'm a Bankruptcy litigation attorney. Thanks for your question.

There are homestead exemptions in bankruptcy for a homestead property in California. Here's a good link that outlines the exemptions - - which starts at $75,000:

Thus, you can use this exemption, but that's not going to affect what you have to repay your lender on your mortgage through your chapter 13 plan. The reason is that a mortgage on a primary residence cannoy be crammed down or adjusted through bankruptcy by law. You can certainly try to negotiate with the lender and agree to a modification/reduction, but there's no right to such.

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