Keeping Your Home in San Antonio Bankruptcy

Your home is often your most valuable asset. Here is how Texas bankruptcy law protects homeowners.

Texas Homestead Exemption

Exemption amount: Unlimited (10 acres urban / 100 acres rural)

The homestead exemption protects equity in your primary residence. Equity is the difference between your home's value and what you owe on it (mortgages, liens).

Keeping Your Home in Chapter 7

  • If your equity is within the homestead exemption, your home is protected from the trustee
  • You must stay current on your mortgage payments
  • You may need to reaffirm the mortgage debt
  • If your equity exceeds the exemption, the trustee could sell the home to pay creditors

Saving Your Home in Chapter 13

Chapter 13 is the primary tool for saving a home from foreclosure:

  • The automatic stay stops foreclosure immediately
  • You can cure mortgage arrears over 3-5 years while resuming regular payments
  • Second mortgages may be stripped if your home is worth less than the first mortgage balance

Frequently Asked Questions

What if I have too much equity?

If your equity exceeds the homestead exemption, Chapter 13 may be a better option -- it lets you keep the home while repaying creditors the value of your non-exempt equity through your plan.

Can I keep my home if I am behind on payments?

Chapter 13 lets you catch up on missed payments over 3-5 years. Chapter 7 does not have this feature -- you must be current on payments to keep the home. Learn more.

Open Bankruptcy Project Network

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