Tag Archives: homestead exemption
Getting the Most Out of California’s Homestead Exemption in Bankruptcy
Homeowners who fall on hard financial times often rule out bankruptcy because they fear it means they might lose their home. But in reality, many owners are able to use California’s homestead exemption to file for Chapter 7, receive a discharge and keep their home. For 2022, the exemption is $300,000 or the median sale […]
New Law Increases California Homestead Exemption up to $600,000
There is good news for California homeowners who are considering filing for bankruptcy protection. A new state law raises the homestead exemption — the amount of home equity that can be shielded from creditors in a Chapter 7 or Chapter 13 — to a minimum of $300,000 and a maximum of $600,000. The increase was […]
