Foreclosure & Alternatives Law

Can I Keep My Home If I File Bankruptcy in Missouri?

Homeowners in Missouri are allowed to protect $15,000 of their home equity from unsecured creditors because of the state’s homestead exemption law. If a Missouri homeowner has $15,000 or less in equity in his or her primary residence and continues to make regular mortgage payments then the bankruptcy court will likely allow the homeowner to keep his or her home during a bankruptcy proceeding.