Homestead lien question.

[DYLAN150]

First question: I have only about 30k in home equity with the state homesteading exemption being 125K. (house's keeping going down in value here)
So can a creditor put a lien on my house and wait until there is over 125k in equity to collect. (that might be in 20 or 30 years)


Second question: Got divorced in 2002 and my x got the family home. I agreed to pay the HELOC on the home. My x paid off the mortgage but I am still paying on the HELOC. Can any creditor put a lien on this house if I keep the HELOC payments current as I am no longer on the title and have no interest on the house.

[keepmine]

The answer to your first question just depends on the law in your state. Does state law allow a judical lein against the house? If so, it'll stay in affect until, it's satisfied.

As to question number 2-if you no longer have any ownership interest then, it's not your asset and not something a creditor could attach.

[DYLAN150]

Does state law allow a judical lein against the house?

I don't really know. I live in WA. State.