How does the homestead exemption protect people’s assets? Say you own a home which is your primary residence which is worth $500,000.00, and has a first mortgage of $250,000.00 with no other liens. That means you have $250,000.00 of equity in your home, and if you sell your home you will receive $250,000.00 (less closing costs, brokers’ fees, etc.).
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Joseph PerlJoseph Perl specializes in civil litigation with a focus on debtor and creditor disputes, and commercial debt collection. Archives
May 2020
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