I think you are wrong. Under chapter 11, you lose your home now so if they rush to file under chapter 11 they wont keep their house anyway. Chapter 13 or the type of bankruptcy that the Republicans are attempting to make most file under you can keep your house, but you continue to make some payments on your other credit.
They'll lose their homes because they won't be able to make mortgage payments, etc., not because the home was sold off to satisfy the debt.
You do not necessarily lose your home in a CH 11. CH 11 can be used to cure defaults and avoid foreclosure.