New California Homestead Exemption Increased For Bankruptcy Cases
What Is A Homestead Exemption? A huge concern for those who need to file bankruptcy is whether they will lose their home. [pullquote]See More On Exemptions In Bankruptcy[/pullquote] Every state has "exemptions" which protect the homestead (where one resides) up to a certain value. Until now, California's homestead exemptions were relatively low compared to other states. People filing bankruptcy often could not do a Chapter 7 case because they could not protect enough equity in their home. And the bankruptcy [...]