"The exemption for a homestead is limited to $125,000 if the property was acquired within the previous 1215 day (3.3 years). The cap is not applicable to any interest transferred from a debtor's previous principal residence (which was acquired prior to the beginning of such 1215-day period)"
I bought my house 2 years ago for $138,000. Market value on my property taxes is $140,000.
I'm hoping to file chapter 7. Will I be able to keep the house? I've never been behind on my mortgage payments.
I bought my house 2 years ago for $138,000. Market value on my property taxes is $140,000.
I'm hoping to file chapter 7. Will I be able to keep the house? I've never been behind on my mortgage payments.
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