I'm Behind in My Mortgage, Can Bankruptcy Save My Home? If you are not current on your mortgage payments and you want to keep your home, you may be able to do so by filing a Chapter 13 bankruptcy. In a Chapter 13 bankruptcy, the arrears are paid over a period of up to five years. To qualify for a Chapter 13, you must be able to afford to pay both your living expenses, which include your current mortgage payments, and the payments that would be required under the repayment plan. The amount you are required to pay will depend on your individual circumstances. If you have a second mortgage that is totally unsecured, you may be able to completely eliminate this second mortgage in a Chapter 13 bankruptcy.   Pursuant to New York law this website is considered attorney advertising. Copyright © 2004-2010 by Jeffrey B. Peltz P.C.. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement.