Changes On Homestead With The New Bankruptcy Reform?

[KKB]

[HHM]

Its the "Equity", you cannot claim more than $125,000 in equity as exempt if you did not acquire the exemption 1215 days before filing your BK.

So for example, if you bought a house in Nevada 2 years ago for $195,000 and now its worth $345,000 and declare BK, you can only claim up to $125,000 of the equity as exempt despite the fact that Nevada's Homestead exemption is $200,000. So, in this example, there would be $25,000 of equity that cannot be exempted under the Homestead exemption.