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Can I keep my home after bankruptcy?
Under a Chapter 7 proceeding, you may be able to keep your home through a reaffirmation agreement so long as you are current in your mortgage payments. However, even if you do owe back payments, you may still be able to keep your home through a proposed Chapter 13 monthly plan wherein you would pay all back payments over a period of time (normally three years). Notwithstanding, the State of Florida is considered a debtor's haven when it comes to homestead protection. In Florida, there is no limit as to the amount of equity you can keep in your home. What this means is that most creditors will not be able to reach this equity to satisfy a debt you owe to them.
Updated: 10/13/99
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