NY Bankruptcy Law-keeping House ???

Q: Does anyone know what the New York provisions are for keeping a house in the event of bankruptcy? Specifically, I am told that as long as payments are kept up to any mortgagees, the house can be kept by the bankrupt. But this can't be right, because otherwise one could shield untold hundreds of thousands or even millions of dollars simply by bying a house and having a small or no mortgage. There must be a maximum amount. Does anyone know it? Thank yu. Ever thought of getting the advice of a New York Bankruptcy Attorney???

A: -Sure. I didn't feel like paying $500 for a one figure piece of information, however. This seemed a very generic, common bit of info, that anyone who knows anything about NY bankruptcy law might

know, and if somewhat considerate, would offer. No forms needed to be prepared, no lengthy strategy sessions were needed, just something someone would know off the top of one's head. I guess you've never given out this kind of easy free info. I have -No. I just don't know NY bankruptcy law. And since this is a tax forum, it was more of a suggestion than a requirement. I would guess that, in general, if you have sufficient equity in any property, including a house, you have to sell it or mortgage it to cover the debts in the bankruptcy estate. I guess you don't have enough equity to make it worth your while to even consider paying for professional advice.