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

Montana law provides homeowners with a homestead exemption of $250,000. That means that unsecured creditors cannot touch the equity in a homeowner’s home unless they have more than a quarter of a million dollars in equity in that home.

So long as the homeowner has $250,000 or less in equity in the home and continues to make regular mortgage payments, the bankruptcy court is likely to allow the homeowner to keep the home in a bankruptcy proceeding.