No. The equity in your home is protected from creditors. The state does not want you to lose your home just because you didn t pay a credit card bill ( or lose your business).Only your personal residence is protected; not any rental properties that you own.
If you did not declare homestead , then yes. In California, every homeowner has an automatic homestead exemption of at least $50,000 for his or her residence. The amount can be higher depending on circumstances and age of the owner, up to 150,000http://law.findlaw.com/state-laws/homest��Not every state has the same homestead law, of course. Consult a bankruptcy attorney to evaluate the circumstances before doing so.
I would visit http://diylegalinfo.com/bankruptcy_Links.html/ They have a lot of good information on bankruptcy questions.
