It is not a surprise that the median home prices in Solano County, California are on the rise compared to 2014.  According to CoreLogic DataQuick, the median price of home sold for July, 2015 was $321,500, a 26% increase than a year ago at $255,750. (Times-Herald)  Foreclosure rate for Solano County is 3.4 homes for every 1,000 homes.  (

In a Daily Republic article dated September 12, 2015, here is the breakdown of median price of home sold for the cities in Solano County, California for the month of August, 2015:

Benicia, California is $526,750

Dixon, California is $363,750

Fairfield, California is $350,000

Rio Vista, California is $246,500

Suisun City, California is $320,000

Vacaville, California is $344,000

Vallejo, California is $280,500.

Of course, rising home prices means more equity or less negative equity.  If you have equity in your home beyond what the California homestead exemption will protect, you should not file a Chapter 7 Bankruptcy case if you want to keep your home.  If you have non-exempt properties when filing a Chapter 7 Bankruptcy, the Chapter 7 Trustee will sale the non-exempt properties to pay your creditors.  Higher home prices can make Chapter 7 Bankruptcy a bad choice for homeowners.

If you cannot manage your debt outside of bankruptcy, your other option is Chapter 13 Bankruptcy plan payment.  In most cases, you are only paying a portion of your debt back in a Chapter 13 Bankruptcy payment plan.  How much you pay depends on your income less reasonable and necessary expenses and the amount of non-exempt equity in your properties.  Thus, Chapter 13 Bankruptcy does not necessary mean that you have to repay 100% of your debt but is formula based.  However, the longer you wait to file bankruptcy and the higher home prices increased, you will end up repaying a higher portion of your debt.

You should consult an experienced bankruptcy attorney to determine which bankruptcy you should file to protect your assets.  Muoi Chea Bankruptcy Attorney has offices in Sacramento, Stockton, and Fairfield, California to help those struggling with debt to get a fresh start.