Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
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: http://www.nolo.com/legal-encyclopedia/the-california-homestead-exemption.html
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.