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The simple thing is it depends. In a Chapter 7 case, while you will shed assets but be forgiven of some debts, you can either formally reaffirm the house loan or, in some judicial districts, just keep making payments. If you fail to make payments, and have some equity in your property, Chapter 13 bankruptcy may be a safer choice for you because it lets you to pay off the unmade payments arrearages (loan) over time and therefore face less risk to losing your property to the trustee. A critical item in a Chapter 13 case is whether a debtor whose property loan is in default can make the larger mortgage payments (the missed payments plus resuming the original payments) over the term period. Finally, if your home value is larger than your states homestead exemption, Chapter 7 is not the choice since you would probably lose your house.