In terms of my opinion, there is a great deal of conflicting case law out there on this issue, most of it originating out of Alberta most recently (where I practice) that suggests the value of the house is the date that it is dealt with by the trustee. So if during the bankruptcy you and the trustee came to an arrangement, had an appraisal done, signed off on the value that would be used, then the day that was done would be the day that the valuation would relate to. However, if that was never done, the trustee simply registered against title and it has sat there ever since, then today’s values would be the appropriate one (although there is a good legal argument that the payments you have made over the last couple of years should be deducted out of the amount you need to pay).