We're going to need to file bankruptcy, and if it's at all possible, I really want to keep our home. Do we have any chance of this?
Chapter 13 Bankruptcy Attorney
You really did not give enough facts to really answer your question. In your state you there is probably a homestead exemption of some kind and you are entitled to elect to use the federal exemptions. In the case of the federal exemptions there is a monetary limit on the amount of equity you can have in your home. So there is a good chance that you will get to keep your home. Inasmuch as you have already decided to file bankruptcy I am not going to get anymore specific inasmuch as your bankruptcy lawyer will explain everything in detail.
If you are current on your mortgage at the time you file your ch7 and the amount of equity you have in your home is within the exemption limits allowed to Iowa residents, and you are able to continue to make your house payments, then yes, you should be able to keep your home. Go see a local bankruptcy attorney. You should be able to find one here on AVVO or try the attorney locator tool at www.nacba.org.
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If you are current on the mortgage and continue making all the payments on time, and if you are able to exempt all the equity in your home (last time I checked, Iowa had an unlimited homestead exemption), you should be able to keep your home. For advice about exemptions, or any other aspect of bankruptcy, you really should talk to an Iowa bankruptcy lawyer.