Foreclosure & Alternatives Law

Can I Keep My Home If I File Bankruptcy in North Carolina?

The homestead exemption in North Carolina is set at $18,500. If a homeowner has more equity in the home or has trouble making mortgage payments then the homeowner might lose his or her home in a bankruptcy. However, if the homeowner has $18,500 or less of equity in the home and can make his or her mortgage payments then he or she will likely keep the home in bankruptcy proceeding.