Will I get a Chapter 7 bankruptcy?

[skinned]

My situation:

1) Unemployed for over a year in CA.
2) $60,000+ in C/C debt.
3) About $50,000-$80,000 in equity on my home (After considering 1st/2nd)
4) Served a Summons by one of the C/C companies 2 days ago.
5) Minimal income from spouse to cover water, elec, gas, etc. Mortgage funded by parents.

Went to see an attorney about 3 months ago, she said I would lose the house/force to sell since I didn't have the income to support it. Basically gave me my free consultation and didn't have time to go into detail.

Am I doomed? Was the attorney correct? Scared to death and don't know my next move......

[SMinGA]

If you cannot afford the mortgage payments post bankruptcy: you will most likely lose the house. Unless your parents are willing/able to pay indefinitely? Are you current on the mortgage now?

[BobMango]

You would need to have income to support a reaffirmation on the mortgage, but if retain and pay is an option in your district you would be able to keep the house as long as the payments are being made. Of course that also depends on whether you can exempt all of the equity.

[momofthree]

You can exempt up to 100,000 in equity in CA as long as it's the only property owned by the family.

[skinned]

If you cannot afford the mortgage payments post bankruptcy: you will most likely lose the house. Unless your parents are willing/able to pay indefinitely? Are you current on the mortgage now?

Current on the mortgage now, but the Summons makes me feel I've run out of options now. If I am current and can somehow find a job, will the Chapter 7 work for me without liquidating my one asset (my house)?

[blessed]

momofthree gave you the answer, you can keep your house if you exempt the equity you have in it and keep the payments current.

I understand you feel rushed to file after being served but remember that any debt you incur after filing will be yours to pay. If you don't have income to support yourself then a bk won't help fix this.