Does Homestead Exemption count in a Chapter 7 lien strip? If my home is worth 125000 and has a 1st for 105000 and a second for 30000 and my Homestead Exemption is 20000 does that make the second unsecured?
Asked on 11/30/13, 5:25 am
2 Answers from Attorneys
Glen Ashman
Ashman Law Office also dba Glen Ashman Attorney
No. If your numbers are correct on value, you could not do a chapter 7 or 13 lien strip. Discuss this with your lawyer.
Answered on 11/30/13, 7:18 am
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