A homestead exemption is a legal provision that allows homeowners to protect a certain amount of equity in their primary residence from being seized by creditors in the event of bankruptcy.
Tag: save home in bankruptcy
Bankruptcy without losing house
Filing bankruptcy without losing house happens all the time. This is usually one of biggest concern with my clients that own property. It’s understandable that there is so much concern about filing bankruptcy without losing house since our homes are usually are largest asset (and usually our largest debt). Most people are able to keep… Continue reading Bankruptcy without losing house
Bankruptcy to keep house
Keeping assets during a bankruptcy is dependent on how much you owe for them, how much they are worth, and also the type of bankruptcy you are planning to file for bankruptcy to keep house. The most common bankruptcy is a Chapter 7, and generally people file for this kind of bankruptcy because they do… Continue reading Bankruptcy to keep house