Saving a home is the a common reason a person files a Chapter 13 bankruptcy. In most cases, a Chapter 13 is the appropriate type of bankruptcy to file to try to save a home.
Sometimes known as a “reorganization of debts”, a Chapter 13 bankruptcy may allow you to get caught up on the house payment by making payments to a trustee in addition to the regular mortgage payment. In most cases, Chapter 13 bankruptcy will not change the regular mortgage payment.
In cases involving mobile homes, the treatment can be different if the mobile home is classified as personal property. Mobile homes can sometimes be paid entirely through the chapter 13 plan — paying the value of the mobile home instead of the balance of the loan.
Discussing your mortgage situation with a bankruptcy attorney will help you know your options.