Can I keep my house in a Chapter 11 bankruptcy?

Yes, you can keep your house in a Chapter 11 bankruptcy if you meet certain requirements. In Florida, Chapter 11 bankruptcy is a form of reorganization for individuals, businesses, and other entities that allows them to keep their assets, such as their home, while they reorganize their finances. In order to keep your house in a Chapter 11 bankruptcy, you must be current on your mortgage payments and any other secured debts. Additionally, you must be able to show the court that you will be able to make your mortgage payments in the future. When filing for Chapter 11 bankruptcy, you must submit a plan to the court detailing how you will pay your debts. This plan should also include how you will continue making your current mortgage payments and your other secured debts. The court must approve of your plan before it can be enforced. In a Chapter 11 bankruptcy, you may also be able to lower your mortgage payments. If your property is worth less than what you owe, you may be able to negotiate with your mortgage lender to reduce your loan balance. This will lower your monthly payments. If you are able to satisfy the requirements of a Chapter 11 bankruptcy, you should be able to keep your home. However, it is important to note that Chapter 11 bankruptcies can be complicated and the court may require additional information in order to approve your plan. Therefore, it is important to consult a bankruptcy attorney to ensure you are taking the necessary steps to keep your home.

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