We are currently in a CH 13 payment plan and selling the house and paying off the creditors. Our projected profit is $50,000. What happens to the difference between the $40,000 from the Homestead exemption and the $50,000 profit?
1 Answer from Attorneys
Re: Homestead exemption
The homestead exemption in Washington has been increased to $125,000.00 therefore you should not have any difference, assuming you chose the state exemptions when filing.