Which value do I use for my house?

[anykey]

I bought it 5 years ago for 32,500. The mortgage is $25,500. I owe $23,050. In order to get the mortgage I had to add extra funds- so the price would be $41,500. It is insured for $55,000.

I plan a chapter 7.

The federal exemptions are better.

I have judgements on me of $23,000 and one coming for $6,000.

The house next door was on the market for $41,000. Mine is nicer.

The house was a foreclosure. I am current on my mortgage.

Houses in dis-repair can sell for $32,500 in my town. This house- even tho it has a mortgage needs substantial work.

Should I use the 32,500??

[memama]

I would use your tax assessor's value for your home. Out of the four cases that were in front of us at our 341 meeting, none of them used the assessor's value, they all used Zillow or valued their home by places currently for sale in their neighborhood. The trustee wanted something "official" and asked most to get back to him about the 'real' value of their home. We used the assessor's value on our schedule and the trustee seemed to like that, didn't give us any issues whatsoever, didn't even question us about it.

[anykey]

The assessor has it at 6880 mils. I think I am confused.