Other uses for the homestead exemption

[woohoogirl]

I keep reading about using the "leftover" homestead exemption to cover other things. Is this allowed? I'm in TN and we have a wildcard of $4000 and a homestead of $5000 ($7500 if married). I have about $1000 equity in my house and roughly $1500 in my car (depends on where you value it). I'm just trying to cram more information in my head.
Thanks,
Woo

[lrprn]

I keep reading about using the "leftover" homestead exemption to cover other things.

Whether it's allowed or not depends completely on your state's exemptions. What each state allows for exemptions varies widely. A few states do allow leftover homestead dollars to be used for other property, most don't.

You are from TN - your exemptions are here - http://www.bankruptcyinformation.com/TN_exemp.htm Unfortunately TN does not allow your homestead exemption to be used for anything else besides your homestead.