One of the first questions a family might ask regarding a potential bankruptcy is what assets might be seized by the bank or by unsecured creditors during the process.  Laws differ in each state regarding non-exempt and exempt assets, but filing under Federal law generally means an individual may exempt a total of $32,300 worth of equity in a home. In California when a Riverside CA bankruptcy attorney might be hired, the amount of a home exempt may be $50,000 if single and able bodied or $75,000 in the case of a multi-person family like a husband and wife.