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I have been a landlord for about 15 years and owned a handful of properties. My job at Chrysler was sent overseas and my debt could not be paid so I'm considering Chapter 7 Vs Chapter 13. I'd prefer chapter 7 so I may start fresh and clear. I live in Texas, properties in NY.

Has anyone been able to protect a rental property when filing a chapter 7 using Homestead exemptions? Or the wildcard exemption? How did you go about it? Did you use a Texas state theme or federal theme? I have $24900 in equity, and positive cash flow that I need to protect.

I've had a comparative market analysis done to state the house is worth less than the assessed value and/or there will be no profits to distribute after paying off the mortgage company.

I am having estimates done for a new roof (it's needed), a new driveway (also needed) and a deck. Also hoping to use these to drive down the assumed value of the property.

Any advice is appreciated.
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