Can I lose my Home during a Bankruptcy?
A debtor can lose their home, most often by not making their mortgage payments timely, or they can lose it to the IRS if the IRS decides to levy and move in that direction. They can also lose their home if they fail to pay their property taxes. Depending on your jurisdiction and the laws where you live, homes may have very special protection, but they are generally not protected in or outside of bankruptcy from the obligation to pay the purchase money security creditor. That generally is a bank or mortgage company that holds the note on that house.
Categories: Bankruptcy & Debt