In the 1990s, the state began to experiment with awarding and managing construction contracts using the design-build system. Figure 1 summarizes the various legislation authorizing state and local entities to use design-build under specified circumstances.
A low payment means you're more likely to be able to demonstrate to the court that you have the capability to make such a payment, which means it's more likely you'll be granted Chapter 13 bankruptcy, which means you'll keep your house.
Most states also have a homestead exemption that protects a certain amount of equity in your principal residence. If your equity is above the exemption amount, then you may still be able to file for Chapter 13 bankruptcy and keep your home.Chapter 13 also allows you to catch up on any missed mortgage payments through your plan.iling for bankruptcy does not mean that you have to give up all of your assets. In Chapter 7 bankruptcy, the amount of property you can keep is determined by your bankruptcy exemptions. Each state (and the federal system) has its own unique set of exemptions.