Ohio Lawyer Helping You Keep Your Home


If a mortgage on other property is secured by a lien, the lien itself usually survives the bankruptcy. While your personal obligation to pay the mortgage on your home may be discharged, the mortgage lender's lien still exits. Without making arrangements in a timely fashion, they may have the right to foreclose on the property.

Debra Booher & Associates is one of the leading consumer bankruptcy law firms in northeastern Ohio. Keeping a house through bankruptcy is one of the many legal concerns we help our clients resolve.

Contact our bankruptcy offices to discuss your financial situation.

How Do I Save My House From Foreclosure?

If selling your home or property cannot satisfy a lien, it is unlikely a lender will foreclose on your home without trying to work with your first. A bankruptcy attorney at our firm can help people interested in keeping a home through bankruptcy or by working with their lenders to consider their options to save their home:

  • Keeping a home under Chapter 7: The homestead exemption for filing under Chapter 7 is $21,625, an amount that is protected from creditors (and this amount is periodically increased under the statute to account for inflation). If you are current on your mortgage payments, and your net equity does not exceed the exemption, then your home will not be at risk in Chapter 7. The important part is determining your "net equity," so you should seek legal advice to determine this figure. Guessing or listening to a friend who filed bankruptcy is extremely risky.
  • Keeping a home under Chapter 13: Homeowners with considerable equity have a greater chance of keeping everything under Chapter 13. While most mortgages cannot be modified, you can stop foreclosure by continuing to make future monthly payments while you catch up on any outstanding amount owed using a payment plan that is more affordable. Also, if you are current on your mortgage but have net equity exceeding the exemption, Chapter 13 is an excellent way to manage your other debt without putting your home at risk. Also, some second and third mortgages can be eliminated in Chapter 13 in certain circumstances. Thus, it is critical to get sound advice to see if this is an option for you.

Chapter 13 as well as Chapter 7 with redemption, reaffirmation and other bankruptcy concepts can be notoriously complex. We are here to help.

Contact Our Akron and Cleveland, Ohio, Bankruptcy Attorneys

Contact our Ohio bankruptcy lawyers today to discuss your options for keeping a house through bankruptcy and getting your fresh start.

With experience handling over 15,000 personal bankruptcies for clients throughout Akron, Cleveland, Westlake, Beachwood, Canton, Kent/Ravenna and elsewhere in northeastern Ohio, our attorneys can help you decide on a sound strategy that makes the most sense for your financial situation. Even if that means surrendering a home, car or other property may be in your best interests. We'll help you reach the best decision and even direct you to lenders who can help you find a replacement vehicle or mortgage in the future if you choose to surrender assets that are over-encumbered with debt.