In California, you can protect up to $100,000 in equity in a primary residence if you are married. If you are single, you can protect up to $75,000. This is known as the homestead exemption. However, even if you have more equity than is allowed under the homestead exemption, you can still keep your property by filing Chapter 13 bankruptcy.
Chapter 13 bankruptcy is a good option for people who have both significant debts as well as significant assets. When you file Chapter 13 bankruptcy:
Many creative bankruptcy strategies are available. For example, you can file Chapter 7 bankruptcy to discharge unsecured debt and immediately follow your Chapter 7 filing with a Chapter 13 filing to protect your secured property.