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Homestead v. Mortgages – Who Wins?

homestead, property, order 25 property taxes

What is Homestead?

Homestead is a right to occupy one’s primary residence.  Homestead also has a set value of $120,000, which comes into play when creditors circle the waters.

Each person has a homestead in the amount of $120,000; therefore, for married couples, each spouse has a $120,000 homestead.

The homestead right is exempt from attachment by creditors, except in … Read the rest

Filed Under: Legislation, Property Tax Law Tagged With: foreclosure, homestead, homestead waiver, lenders, mortgage

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