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If I file a bankruptcy, can I keep my house in Illinois?

Posted on Jan 21, 2011 in Bankruptcy, Chapter 13, Chapter 7, Foreclosure - Saving Your Home

Just because you file a bankruptcy case, you don’t necessarily lose your house in bankruptcy.  There are several considerations;

  • Are you behind in your mortgage?
  • Can you catch up?
  • Are you in foreclosure?

If you are not behind in your mortgage, you can file a bankruptcy, even in chapter 7 if you are eligible, keep on making the payments on your house and stay in your house as though nothing ever happened.

If you are behind in your mortgage, or even if you are in froreclosure, you can file a chapter 13, stop the foreclosure, catch up on the mortgage payments, and even fight the mortgage company’s claim in some cases.

If you can’t catch up, and even if you are in foreclosure, bankruptcy will slow down the foreclosure for a little while.  An Illinois mortgage foreclosure takes almost a year to complete from start to finish.  So you probably will have enough time to get ready to move to another residence if you have to file a bankruptcy case in Illinois.

If you are in trouble with your home mortgage and thinking about bankruptcy, contact the experienced attorneys at Lakelaw.  We have the answers to all your questions.

And for more information, visit our Mortgage Defense and Modification pages at


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