In Texas, your home is generally fully exempt from bankruptcy creditors unless it was:
- valued over $125,000
- acquired within the prior 1,215 days
- acquired as a result of fraud
- acquired as a result of a recent move to Texas from another state
If your equity is exempt, you may keep your home as you continue to make the monthly payments required under your mortgage. However, if you are behind on such payments when you file, you may need to file Chapter 13 in order to repay such amounts past due over 3-5 years and not face foreclosure.
Dont let your home get foreclosed, file bankruptcy and protect your investment.