February 7, 2022: Trustee Talk by Eric R. Perkins, Esq., and Justin S. Baumgartner, Esq.
Generally, the most important question for any homeowner contemplating filing for chapter 7 is whether he/she can keep his/her home. In the case of a homeowner whose home is worth significantly more than the combined amount of all security interests on the property, the would-be debtor’s focus is principally on utilizing either the state or Bankruptcy Code’s exemptions to protect the equity in the property from the reach of unsecured or judgment creditors or a bankruptcy trustee.