Sentences with phrase «federal bankruptcy homestead»
Unless you are willing to become an expert on Dodd Frank, the Consumer Finance Protection Bureau, state homestead laws, state foreclosure laws relating to consumer loans and Federal Bankruptcy homestead protection, I would suggest investing only in notes secured by commercial or investment real estate.
https://www.biggerpockets.com/ Not exact matches
Homes may be preserved under Chapter 7 Bankruptcy by using the state or federal allowable homestead exemption if there is not substantial non-exempt equity.
Regardless of what your state laws deem as homesteaded property, for federal bankruptcy purposes, a homestead is your primary residence, the place in which you and your family live.
Whether you are talking about state or federal bankruptcy laws, understanding homestead exemption in bankruptcy can be complicated.
Additionally, you can keep up to $ 1,000 equity in personal property, such as furniture, art, and electronics, or $ 4,000 equity in personal property if you're not using the homestead exemption; up to $ 1,000 in equity of your vehicle — more if filing bankruptcy jointly with your spouse; and pensions and most retirement accounts, under federal non-bankruptcy exemptions.