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Can a homeowner (own a mortgage account) file for Chapter 7 bankruptcy discharge of all debt?

April 26, 2017account Bankruptcy chapter 7 debt Discharge file Homeowner mortgage

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Can a homeowner (own a mortgage account) file for Chapter 7 bankruptcy discharge of all debt?

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Yes, a homeowner can file for Chapter 7 bankruptcy protection, but risks losing his home. You may want to check your state laws regarding homestead protection. For example, the State of Florida has a homestead act that is very favorable to homeowners and offers protection against creditor claims.