Yes, if you are able to keep making payments in full and on time to your mortgage holder and the agreement is approved by the bankruptcy court. Further, you are entitled to a homestead exemption of $15,000 worth of equity in your home. If you have more than $15,000 worth of equity in your home than the bankruptcy court may order that the property be sold and that the equity in excess of $15,000 be provided to your creditors.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure and alternatives lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure and alternatives attorney to discuss your specific legal situation.