Legal Question in Bankruptcy in Florida

Homestead exemption

I am considering filing ch 7. My debt is approx $270K, and includes a 1st and 2nd mtg (beginning foreclosure), repo'd car, medical bills and credit card bills. I have the opportunity to buy a small $60K manufactured home. I have about $5K in a flexible spending acct (health and dependent care). Is that money exempt, and can I legally use that and/or my income tax return as a down payment on the manufactured home? I have lived in FL for 7 yrs, so is there a waiting period after purchasing manufactured home before I can claim it as my homestead exemption for BK purposes?


Asked on 11/20/08, 9:11 am

1 Answer from Attorneys
Frederick Neustein Law Office of Charles L Neustein PA - StopForeclosureLawyer.com

Re: Homestead exemption

We can defend the foreclosure action giving you all the time you need to pursue several options including the short sale, a sale at market price,find a new tenant, etc. We offer very affordable payment plans of $500/month after the initial retainer (usually about $1000) and can fight the banks for 1-2 years normally...3 years is not unusual. During this time, the bank will not accept any payments...they will also pay the real estate taxes and the insurance. Feel free to call with any other questions.

Regards,

Frederick A Neustein

(888)400.ATTY(2889)

www.StopForeclosureLawyer.com

Read more
Answered on 11/21/08, 1:07 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in Florida