Will Bankruptcy Discharge Your Mortgage? -
Mortgage debt is usually the largest debt amount for most home owners. Filing for bankruptcy does not always mean that you will lose your home and wipe out your mortgage debt. Homestead exemptions allow you to keep your home if you have less than $75,000 of equity if you are single. Married couples can exempt $100,000 of equity, and if you are 65 or older, you can exempt $175,000 of home equity.