Legal Question in Bankruptcy in Virginia

Homestead Deed, Viginia
Aside from the answer I saw posted here, does the Homestead Deed, or exemption protect your house, or homestead as long as you make payments on time?
A lender considering issuing me an equity credit line is qestioning me about their wish to ''remove'' the Homestead (exemption) Deed in place since my C7 in 2003.
The broker has said ''they think they can work around the Homestead Deed''.
Does this mean it protects me and they want to nullify that protection?

Asked on 3/12/09, 9:54 am

Daniel Press Chung & Press, P.C.

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Re: Homestead Deed, Viginia

You can't "remove" a homestead deed. It may protect you to an extent from judgment liens, but not from a mortgage/deed of trust.

Answered on 3/12/09, 12:17 pm

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