Home Exemption

[DaisysMom]

When I filed Chapter 7 last year I claimed the Household exemption and kept my home. My question is, if after I retire (in about 2 years) and I happen get sick or something and have thousands in medical bills, etc...will my home still be protected by the exemption if I am ever sued? I know I can't file Chapter 7 again so I will have no protection from creditors.

Also, since my BK I have been doing really well. No major debt, except for house and we are now able to actually save a bit. I'm just curious about the future. SH** happens and I want to know my options. BTW...except for the house I will be judgement proof.

Thank You DM

[despritfreya]

In general, the equity in your home is protected from future creditors up to the allowed exemption in your state. Regardless of the equity, a homestead does not protect you from consensual liens like your mortgage, HOA or taxes.

Des.